Category: tax

Exchequer figures for May show an overall deficit in the public finances of €6.143bn. This compares with a deficit of €63m in the same month last year. An unexpected increase in the amount of corporation tax collected offset sharp declines across all other tax heads. Spending was up ahead of where it was planned to […]

The European Commission has claimed that “Ireland’s tax rules are used for aggressive tax planning”. The claim is made in a report on the Irish economy published today. The report is part of a package of reports on all member state economies regularly produced by the Commission. The Commission makes specific reference to withholding taxes, […]

Nearly 140 governments have agreed to launch a rewrite of decades-old cross-border tax rules for the digital age over the coming months, the Organisation for Economic Cooperation said after talks this week in Paris.  The rise of Amazon, Facebook and Google has strained existing rules to breaking point because big tech companies can book profits in […]

French Finance Minister Bruno Le Maire said France had reached an agreement with the US on the basis for future talks over a global digital tax, at the Organisation for Economic Development (OECD) level. “We had long talks this morning with the US Treasury Secretary and the OECD Secretary General,” Mr Le Marie said at the World Economic […]

Research by the Economic and Social Research Institute has found that the Irish tax system does more than any other system in the EU to redistribute income and reduce inequality. It also found that raising the point at which taxpayers pay the higher rate of tax, or abolishing the Universal Social Charge, would both favour those […]

The chief executive of IDA Ireland has said it is hard to see how a digital tax makes sense. Speaking to RTE News in Davos at the World Economic Forum annual meeting, Martin Shanahan said Ireland believes the issue should be dealt with on a multilateral basis through the OECD. His comments came just hours […]

Exchequer figures to be released later today are expected to show a surplus of €1.5bn for last year. The surplus is mainly due to higher than forecast levels of corporation tax on company profits. The forecasts for corporation tax were revised upwards three times in 2019. The final figure is expected to be €1.4bn ahead […]

The ESRI has warned that any reduction in windfall levels of corporation tax will have a significant impact on the public finances, which could require the Government to implement austerity policies.  Because of this danger, it advises that the windfall portion of the corporation tax take should be set aside to counter any shocks to the […]

Better to preserve resources than cut taxes in Budget 2020 – Donohoe Minister for Finance Paschal Donohoe has said it will be far better off preserving resources to deal with the possibility of a no-deal Brexit, rather than reducing taxes in Budget 2020. Yesterday, Cabinet agreed to base Budget 2020 on the assumption that there […]

€9.8m worth of tax settlements were made in the second quarter according to Revenue A website consultant from Dublin must pay Revenue €888,619 in under declared income tax, as well as interest and penalties as a result of a settlement arising from an audit. The case, concerning Michael P Doyle from 34 Dartmouth Road in […]