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Finance Minister Michael Noonan has said taxpayers need payback as hopes of a global tax on banks were shattered.
As European ministers examined plans for a financial transaction tax, supported by Ireland, France and Germany, Britain's Chancellor of the Exchequer George Osborne flatly rejected the idea.
He claimed it would cost 500,000 jobs in the midst of an economic crisis and drive business from Europe.
Mr Noonan also revealed a plan for an international system of levying the banking sector did not get heavyweight support from the G20 group of nations at a summit in Cannes last week.
"Countries all over Europe including Ireland have put in a lot of taxpayers' money to support the banking system," he said following talks in Brussels.
"There must be a day when it's payback time for the taxpayer. Some form of tax on the financial sector is appropriate."
Mr Noonan said he wanted the financial transaction tax in place around the world but accepted the chances are slim in the near future.
"If it's to come in in Europe our preference would be that it's a tax for the 27 states rather than the 17 (euro) states," Mr Noonan said.
"Ireland would find it very difficult, it would be very onerous on our financial services industry if there were a financial transaction tax in Dublin and not in London. That would be very onerous on us."
The Brussels talks were the first time EU finance ministers have raised the proposed Financial Services Tax, designed to recoup some of the costs of the banking crisis.
