Ireland's Total Tax Revenue Increased in 2015

"Making your country an easy place to do business" is the experience that allowed Ireland to overcome the European debt crisis and achieve economic recovery. As a small country, Ireland recognized that, compared to other European nations, it lacked the strong domestic demand to support local economic development. However, the pillar of Ireland's economy has never been domestic consumption.

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"Making your country an easy place to do business" is the experience that allowed Ireland to overcome the European debt crisis and achieve economic recovery. As a small country, Ireland recognized that, compared to other European nations, it lacked the strong domestic demand to support local economic development. However, the pillar of Ireland's economy has never been domestic consumption, but rather taking an international market perspective, focusing on serving the entire European continent, and prioritizing the attraction of foreign investment as the primary key to economic development. Investors immigrating to Ireland are well aware that low taxation has always been the "trump card" used by the Irish government to attract foreign investors. Even so, Ireland's tax revenue still saw growth in 2015.



 

In 2015, Ireland's fiscal tax revenue reached 45.6 billion euros, a year-on-year increase of 4.32 billion euros, which is 3.3 billion euros higher than the forecast made at the beginning of the year. The main reasons for the tax growth in 2015 were: increased employment leading to higher personal income tax; increased consumption leading to higher value-added tax; and growth in corporate tax.

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