Advert

Customs revenue reached €427m last year

'We'll improve further in years to come,' department pledges

Infographic: Customs Department

Infographic: Customs Department

The Customs Department contributed €427 million to government coffers in 2017, with more than half of that coming from excise duty paid on imports. 

The €427.1 million in revenue is a €27 million increase from revenue the previous year. This increase came about despite slight decreases in revenue from import duty and VAT, with the department attributing those declines to consumers buying more items from within the European Union single market rather than third countries. 

Import duty stood at €15.1 million last year (compared to €16.5 million in 2016) while revenue from VAT was down by €1 million to reach €117.8 million. 

WATCH: More than 12 million contraband cigarettes shredded

Making up for those shortfalls was a €27 million increase in excise tax revenue, from €261 million to €288.2 million, and increased revenue from other activities, such as bunkering tax, auction proceeds, fines and so on. Such income hit €6 million, from €3.6 million in 2016. 

In a statement announcing the figures, a Customs spokesman said that the department continued to be a key revenue earner for the government and European Union.  

Investment in human resources, modern equipment and better enforcement would bump revenue up further in the coming years, the spokesman said. 

Comments not loading? We recommend using Google Chrome or Mozilla Firefox with javascript turned on.
Comments powered by Disqus  
Advert
Advert