• Home
  • Top News
  • World
  • Economy
  • Science
  • Tech
  • Sport
  • Entertainment
  • Contact Form
SwordsToday.ie
No Result
View All Result
No Result
View All Result
SwordsToday.ie
No Result
View All Result

An Irish task force says taxes need to be raised to tackle key economic challenges.

Jake Pearson by Jake Pearson
September 15, 2022
in Economy
0
NatWest falls into the red in 2020 and retreats from Ireland

The Tax Commission suggested that there is a need to widen the tax base and shift the balance of taxation from taxes on labor to taxes on capital, wealth and consumption.

He called for a substantial increase in the yield of land and property tax and a substantial hike in capital gains tax and capital gains tax. New taxes such as road user fees are also needed as revenue from fossil fuel taxes declines, the report said.

“Given Ireland’s demographic profile, the level of public debt and a number of other economic risks, it is inevitable that the total amount of tax required to fund public services will increase in the coming years”, the commission’s report said.

Other risks listed include “significant uncertainty” about future revenues from corporation tax, which Ireland collects mainly from large multinational corporations and public funds needed to tackle climate change.

Commission chair Professor Niamh Moloney of the London School of Economics said the commission was aware of the financial challenges families were facing due to rising inflation and that many of its recommendations would be difficult to implement.

Finance Minister Paschal Donohoe said the report raised serious questions about how Ireland would reform its “long-term” tax and welfare systems.

The government has pledged tax cuts as part of the annual budget to be announced on September 27 to help consumers and businesses cope with rising energy prices.

Jake Pearson

Prone to fits of apathy. Unable to type with boxing gloves on. Internet advocate. Avid travel enthusiast. Entrepreneur. Music expert.

See also  How European agreements work
Previous Post

Do you find it difficult to make decisions? Well, this personality test will reveal what you see Psychiatric examination Viral | nnda nnrt | Mexico

Next Post

Ireland – Free contraception available to women aged 17-25

Next Post
pilule contraceptive

Ireland - Free contraception available to women aged 17-25

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Navigate

  • Home
  • Top News
  • World
  • Economy
  • Science
  • Tech
  • Sport
  • Entertainment
  • Contact Form

Pages

  • About Us
  • DMCA
  • Privacy Policy
  • Editorial Policy
  • Contact Form
  • About Us
  • DMCA
  • Privacy Policy
  • Editorial Policy
  • Contact Form

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • About Us
  • Contact Form
  • DMCA
  • Editorial Policy
  • Privacy Policy

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.