Ireland's €700m Brexit Bonanza: Record Customs Duty Revenues from GB Imports
Ireland has gained a €700m (£600m) financial benefit from Brexit due to increased tax revenues from customs duties on imports from Great Britain.
Before Brexit, Britain's exports to the EU, including Ireland, were customs-free as part of the single market and customs union.
However, with Boris Johnson's hard Brexit, new controls, checks, and duties were imposed on exports to the EU, resulting in significant revenue for Ireland.
The text reports a significant increase in customs duty receipts in Ireland following Brexit.
Between 2020 and 2021, there was a 90% jump in customs revenues, with an additional €178m in 2021 and €617m in 2022 compared to 2019.
The Irish Revenue Commissioners attributed this increase primarily to Brexit, with a notable amount of customs duty coming from imports from China.
Overall, customs revenues saw a 72% increase in 2023 compared to 2019.
The text discusses the significant increase in customs duties collected by Ireland due to Brexit.
Great Britain, as a third country since 2021, has resulted in doubled customs duties compared to the previous decade.
Ireland was the primary source of imported goods and customs duties for the country, accounting for nearly half (45%) of Ireland's total last year, approximately €264m.
Preliminary revenue reports indicate that almost all the increase in custom revenues over the past three years can be attributed to Brexit.
However, with Boris Johnson's hard Brexit, new controls, checks, and duties were imposed on exports to the EU, resulting in significant revenue for Ireland.
The text reports a significant increase in customs duty receipts in Ireland following Brexit.
Between 2020 and 2021, there was a 90% jump in customs revenues, with an additional €178m in 2021 and €617m in 2022 compared to 2019.
The Irish Revenue Commissioners attributed this increase primarily to Brexit, with a notable amount of customs duty coming from imports from China.
Overall, customs revenues saw a 72% increase in 2023 compared to 2019.
The text discusses the significant increase in customs duties collected by Ireland due to Brexit.
Great Britain, as a third country since 2021, has resulted in doubled customs duties compared to the previous decade.
Ireland was the primary source of imported goods and customs duties for the country, accounting for nearly half (45%) of Ireland's total last year, approximately €264m.
Preliminary revenue reports indicate that almost all the increase in custom revenues over the past three years can be attributed to Brexit.
