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Ireland Passes Legislation on Windfall Tax for the Energy Sector

On August 2, 2023, Ireland's Environment Minister, Eamon Ryan, signed an order to enforce The Energy Act 2023. ( )

This legislation introduces a temporary solidarity contribution on windfall profits earned in 2022 and 2023 by companies involved in the extraction, mining, or refining of petroleum, natural gas, coal, or the production of coke products. The temporary solidarity contribution is calculated based on a portion of a company's taxable earnings that exceed a 20 percent baseline and is levied at a rate of 75 percent.

Companies falling within the purview of this temporary solidarity contribution must complete registration with the Revenue Commissioners by August 30, 2023. To enroll for the TSC (Temporary Solidarity Contribution), energy firms must fill out Form TSC1 and submit it through the MyEnquiries feature in the Revenue Online Service (ROS).

Furthermore, these companies are obliged to submit their returns (Form TSC2) and remit the 2022 temporary solidarity contribution to the Revenue Commissioners by September 23, 2023, for the 2022 fiscal year, and by September 24, 2023, for the 2023 fiscal year.


If you require assistance in relation to the above and/or would like to discuss anything further, please do not hesitate to contact or your usual A.C.T. contact.


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