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21/11/2011
Super Rich Exiles Give 'Two Fingered Salute'
A Labour spokesman has described the latest tax receipts from Ireland's super rich tax exiles as a 'two fingered' salute, as only ten non-residents pay it.
Labour TD, Gerald Nash expressed dismay that the 'Domicile Levy' implemented by the late Finance Minister, Brian Lenihan, on tax -exiles has seen only ten super-rich ‘non-residents’ pay on average €147,000 each to the Revenue Commissioners.
"This levy was brought in to specifically target tax exiles who earn more than a million a year and hold assets in excess of five million euro in Ireland. It beggars belief to think that it has only netted the equivalent of the combined salaries of 40 teachers," Mr Nash said.
He added: “Figures released to me two weeks ago by the Department of Finance showed that, at that point, a total of only five returns had been made in advance of the November 15th on-line tax return deadline.
The Labout TD said that the final figures of ten returns for this year represented a "two-fingered salute" from the vast majority of the estimated 400 plus 'super-rich' to ordinary "hard-pressed" Irish citizens who pay their taxes and willingly support our public services each year.
"Fianna Fail's softly-softly approach to perma-tanned tax exiles attracted howls of derision in the sun drenched islands and now we know why. This measure was mere window dressing and has proved totally ineffective.
“It is sickening to see vastly wealthy tax exiles turning up at ego boosting charity events dispensing their largesse like colonial overseers whilst refusing to pay a fair and reasonable amount of tax like ordinary citizens. I would urge the Minister to seriously address this and introduce a levy with real bite in the 6th December Budget," the Minister said.
(DW)
Labour TD, Gerald Nash expressed dismay that the 'Domicile Levy' implemented by the late Finance Minister, Brian Lenihan, on tax -exiles has seen only ten super-rich ‘non-residents’ pay on average €147,000 each to the Revenue Commissioners.
"This levy was brought in to specifically target tax exiles who earn more than a million a year and hold assets in excess of five million euro in Ireland. It beggars belief to think that it has only netted the equivalent of the combined salaries of 40 teachers," Mr Nash said.
He added: “Figures released to me two weeks ago by the Department of Finance showed that, at that point, a total of only five returns had been made in advance of the November 15th on-line tax return deadline.
The Labout TD said that the final figures of ten returns for this year represented a "two-fingered salute" from the vast majority of the estimated 400 plus 'super-rich' to ordinary "hard-pressed" Irish citizens who pay their taxes and willingly support our public services each year.
"Fianna Fail's softly-softly approach to perma-tanned tax exiles attracted howls of derision in the sun drenched islands and now we know why. This measure was mere window dressing and has proved totally ineffective.
“It is sickening to see vastly wealthy tax exiles turning up at ego boosting charity events dispensing their largesse like colonial overseers whilst refusing to pay a fair and reasonable amount of tax like ordinary citizens. I would urge the Minister to seriously address this and introduce a levy with real bite in the 6th December Budget," the Minister said.
(DW)
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