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The literature shows that earmarking carbon tax revenues to reduce other distortionary taxes can lessen the tax's adverse economic implications, whereas transferring revenues directly to households can reduce the adverse equity implications. This paper uses a dynamic applied general equilibrium model to examine this inherent efficiency-equity trade-off in Irish carbon tax revenue recycling (RR). We analyse pure RR schemes, where total carbon tax revenues are allocated either to increased household transfers or to tax rate reductions and mixed schemes, which combine these two. The results show that all tax reduction RR options can reduce emissions and increase GDP and welfare (creating a double dividend) but increase inequality. However, when sales tax reductions are combined with household transfers, increased efficiency and equity can be found, creating a triple dividend. This paper contributes to the literature by directly examining the efficiency-equity trade-offs across detailed mixed RR schemes. From a policy perspective, we conclude that mixed RR options generate better outcomes as the government can directly balance efficiency and equity outcomes.