Menu
04/02/2010
Taxing Day For High Earners
The state's high earners will be dipping deeper into their pockets today as the Finance Bill put forward in December's budget is officially published today.
Publishing the bill this afternoon will give legal effect to measures announced in the Budget, including abolishing a number of tax reliefs and raising the effective tax rate for high earners.
From today, high earners will face an effective minimum tax rate of 30% plus Pay Related Social Insurance (PRSI) and income levies, and impose a €200,000 levy on wealthy tax non-residents.
Incentives to promote inward investment are also believed to be part of the Bill, with a number of moves to make Ireland more attractive to the funds management industry in particular.
In response, Opposition party Fine Gael have published their own proposals for tax reform, claiming the Government's plans would have a "destructive impact".
A memo published by the party said: "Fine Gael warned the Government over the last year that its attempts to tax its way back to economic recovery and health in the public finances would backfire because of the destructive impact on competitiveness and confidence."
Research and development spending is also expected to get some tax benefit in today's bill, however industry experts believe the measures will not go far enough.
(DW/GK)
Publishing the bill this afternoon will give legal effect to measures announced in the Budget, including abolishing a number of tax reliefs and raising the effective tax rate for high earners.
From today, high earners will face an effective minimum tax rate of 30% plus Pay Related Social Insurance (PRSI) and income levies, and impose a €200,000 levy on wealthy tax non-residents.
Incentives to promote inward investment are also believed to be part of the Bill, with a number of moves to make Ireland more attractive to the funds management industry in particular.
In response, Opposition party Fine Gael have published their own proposals for tax reform, claiming the Government's plans would have a "destructive impact".
A memo published by the party said: "Fine Gael warned the Government over the last year that its attempts to tax its way back to economic recovery and health in the public finances would backfire because of the destructive impact on competitiveness and confidence."
Research and development spending is also expected to get some tax benefit in today's bill, however industry experts believe the measures will not go far enough.
(DW/GK)
Related Irish News Stories
Click here for the latest headlines.
27 February 2012
Bill Plans To Protect Whistleblowers
Public Expenditure and Reform Minister, Brendan Howlin, today published the Draft Heads of the Protected Disclosure in the Public Interest Bill 2012. Welcoming the publication Minister Howlin stated: "This Government is committed to a significant political reform agenda.
Bill Plans To Protect Whistleblowers
Public Expenditure and Reform Minister, Brendan Howlin, today published the Draft Heads of the Protected Disclosure in the Public Interest Bill 2012. Welcoming the publication Minister Howlin stated: "This Government is committed to a significant political reform agenda.
26 March 2009
Taxing Time Ahead?
There is no suggestion that this week's resumption of talks with trade unions and other 'social partners' means a softening of resolve in making tough decisions over tax.
Taxing Time Ahead?
There is no suggestion that this week's resumption of talks with trade unions and other 'social partners' means a softening of resolve in making tough decisions over tax.
10 September 2009
NAMA Bill To Be Published Today
A revised version of the Government's controversial asset management plan is to be published today.
NAMA Bill To Be Published Today
A revised version of the Government's controversial asset management plan is to be published today.
09 June 2014
New Clamping Bill To Be Published
The fee for having your car released from a clamp is to be capped under a new Bill being published today. Under the Clamping Bill, clamping on private ground will be regulated for the first time alongside greater penalties for operators that breach regulations. A new industry regulator will also be appointed to oversee the sector.
New Clamping Bill To Be Published
The fee for having your car released from a clamp is to be capped under a new Bill being published today. Under the Clamping Bill, clamping on private ground will be regulated for the first time alongside greater penalties for operators that breach regulations. A new industry regulator will also be appointed to oversee the sector.
06 March 2008
€6m To Inform Voter Of Lisbon Treaty
The Government is to spend nearly €6m informing voters about the Lisbon Treaty ahead of a referendum later this year. The total budget to provide information will be €5.8m The bill to allow for the referendum has been published today. The Taoiseach has indicated it will be in the last week of May or early June.
€6m To Inform Voter Of Lisbon Treaty
The Government is to spend nearly €6m informing voters about the Lisbon Treaty ahead of a referendum later this year. The total budget to provide information will be €5.8m The bill to allow for the referendum has been published today. The Taoiseach has indicated it will be in the last week of May or early June.
-
Ireland WeatherThis Evening and Tonight:Scattered showers at first, but these will gradually die out through the evening. Cloudy but mainly dry through the night, with the chance some showers in the south and west. Minimum temperature 9 °C.
