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15/09/2008
Think Tank Says End "Unfair" Tax Breaks For Rich
Ahead of the Government's forthcoming budget, an influential religious think-tank has urged for a reformation of the tax system, which it believes favours Ireland's wealthy.
According to the latest Policy Briefing from CORI Justice, a fairer tax system could result in savings of €2 billion in revenue for the government if they implement the group's proposed reforms.
The body points out that the present tax relief system favours higher earners as they fall into to a larder tax relief bracket.
The document used an example of how low earners can get penalised when trying to reclaim tax.
If a person on the average industrial wage of €34,000 faces a bill of €1,000 for dental work they can claim relief at 20%, worth €200. But a person earning twice the average can claim relief at 41%, savings of €410.
The document said: "If there is a legitimate case for making a tax relief/expenditure available then it should be made available in the same way to all.
"We estimated that the exchequer could collect an additional €2 billion in revenue if all tax relief schemes were made available only at the standard rate."
The CORI document added: "There is something profoundly unfair about this situation where a person on a lower income has to pay substantially more for the very same treatment compared to a person with twice his/her income."
The document also recommended suspending the contribution to the pension fund, and maintaining investment to infrastructure development.
(DW)
According to the latest Policy Briefing from CORI Justice, a fairer tax system could result in savings of €2 billion in revenue for the government if they implement the group's proposed reforms.
The body points out that the present tax relief system favours higher earners as they fall into to a larder tax relief bracket.
The document used an example of how low earners can get penalised when trying to reclaim tax.
If a person on the average industrial wage of €34,000 faces a bill of €1,000 for dental work they can claim relief at 20%, worth €200. But a person earning twice the average can claim relief at 41%, savings of €410.
The document said: "If there is a legitimate case for making a tax relief/expenditure available then it should be made available in the same way to all.
"We estimated that the exchequer could collect an additional €2 billion in revenue if all tax relief schemes were made available only at the standard rate."
The CORI document added: "There is something profoundly unfair about this situation where a person on a lower income has to pay substantially more for the very same treatment compared to a person with twice his/her income."
The document also recommended suspending the contribution to the pension fund, and maintaining investment to infrastructure development.
(DW)
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