Menu
21/11/2008
Tax Hits Hard Following Finance Bill
Taxpayer pockets will feel a little lighter following the publication of the new tax policy, outlined in the Government's widely contested budget in October.
Average earning families can expect to lose €500 from their take home pay due to the increased levies, charges and taxes despite calls from the opposition that the 1% tax levy was targeting vulnerable people.
However, the Finance Minister Brian Lenihan also announced a 3% levy on all incomes over €250,000. High earners are now on the Government hit list to make up the multi billion pound tax shortfall expected for this year.
Mr Lenihan also closed a loophole allowing tax exiles certain exemptions in the Finance Bill that introduced 17 new taxes and increases, including changes in Capital gains tax, and adjustments to various tax bands.
Delivering the Bill, Mr Lenihan said: "The measures contained in this Bill strike a balance between the need to protect those on low incomes, and the need to restore order to our public finances."
The measures will be debated in the Dail next week and are expected to be accepted by the house.
(DW)
Average earning families can expect to lose €500 from their take home pay due to the increased levies, charges and taxes despite calls from the opposition that the 1% tax levy was targeting vulnerable people.
However, the Finance Minister Brian Lenihan also announced a 3% levy on all incomes over €250,000. High earners are now on the Government hit list to make up the multi billion pound tax shortfall expected for this year.
Mr Lenihan also closed a loophole allowing tax exiles certain exemptions in the Finance Bill that introduced 17 new taxes and increases, including changes in Capital gains tax, and adjustments to various tax bands.
Delivering the Bill, Mr Lenihan said: "The measures contained in this Bill strike a balance between the need to protect those on low incomes, and the need to restore order to our public finances."
The measures will be debated in the Dail next week and are expected to be accepted by the house.
(DW)
Related Irish News Stories
Click here for the latest headlines.
26 May 2009
No More Income Tax Hikes, Claims Lenihan
The Finance Minister Brian Lenihan has said there will be no further income tax increases this year. The vow comes only a month after the Government doubled the income levies in the emergency budget. Despite the assurances, Mr Lenihan has confirmed that a property tax and a carbon tax were being considered.
No More Income Tax Hikes, Claims Lenihan
The Finance Minister Brian Lenihan has said there will be no further income tax increases this year. The vow comes only a month after the Government doubled the income levies in the emergency budget. Despite the assurances, Mr Lenihan has confirmed that a property tax and a carbon tax were being considered.
19 February 2019
Urgent Action Needed On Outstanding Tax Payments Of €4.3bn
Labour has called for urgent action on outstanding tax payments of €4.3 billion owed to Revenue as of 31 January, 2019. According to Labour Finance spokesperson Joan Burton, a total of €969m is immediately available for collection and would make a significant difference to public services.
Urgent Action Needed On Outstanding Tax Payments Of €4.3bn
Labour has called for urgent action on outstanding tax payments of €4.3 billion owed to Revenue as of 31 January, 2019. According to Labour Finance spokesperson Joan Burton, a total of €969m is immediately available for collection and would make a significant difference to public services.
11 November 2016
Concerns Raised Over Impact Of Trump's Tax Plans On Ireland
Concerns have been raised over the impact of US President-Elect Donald Trump's plans to reduce American corporation tax to 15%. Sinn Féin and Labour have both called on the Government to address concerns over the impact such a tax policy could have on Ireland.
Concerns Raised Over Impact Of Trump's Tax Plans On Ireland
Concerns have been raised over the impact of US President-Elect Donald Trump's plans to reduce American corporation tax to 15%. Sinn Féin and Labour have both called on the Government to address concerns over the impact such a tax policy could have on Ireland.
21 August 2015
Entrepreneurs And The Self-Employed 'Deserve Tax Standardisation' - FG
Entrepreneurs and self-employed people in Ireland "deserve tax standardisation", Fine Gael has said. Fine Gael TD for Meath West, Ray Butler, made the comments following the news that the Department of Finance is to review of the taxation of entrepreneurs and the self-employed in Ireland.
Entrepreneurs And The Self-Employed 'Deserve Tax Standardisation' - FG
Entrepreneurs and self-employed people in Ireland "deserve tax standardisation", Fine Gael has said. Fine Gael TD for Meath West, Ray Butler, made the comments following the news that the Department of Finance is to review of the taxation of entrepreneurs and the self-employed in Ireland.
05 September 2014
Wealthier Local Areas To Top-Up Lower Tax Bases
80% of of Local Property Tax is to be kept by councils to fund public services, with 20% being re-distributed to top up funding to those areas with lower tax bases, under new rules announced by the Department of the Environment for 2015.
Wealthier Local Areas To Top-Up Lower Tax Bases
80% of of Local Property Tax is to be kept by councils to fund public services, with 20% being re-distributed to top up funding to those areas with lower tax bases, under new rules announced by the Department of the Environment for 2015.
-
Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
