Taxation In The Republic Of Ireland
In Ireland there is an income tax, a VAT, and various other taxes. Employees pay pay-as-you-earn (PAYE) taxes based on their income, less certain allowances. The taxation of earnings is progressive, with little or no income tax paid by low earners and a high rate applied to top earners. However a large proportion of central government tax revenue is also derived from value added tax (VAT), excise duties and other taxes on consumption. The standard rate of corporation tax is among the lowest in the world at 12.5%.
The Irish tax system is primarily in place to pay for current expenditure programs, such as universal free education, taxpayer funded healthcare, social welfare payments such as old age pensions and unemployment benefit and public capital expenditure, such as the National Development Plan and to pay for the Public Service.
Read more about Taxation In The Republic Of Ireland: Capital Gains Tax (CGT), Value Added Tax (VAT), Deposit Interest Retention Tax, Stamp Duties, Capital Acquisitions Tax (CAT), Corporation Tax, Withholding Taxes, Other Taxes, Motor Tax, Taxation Evasion and Tax Avoidance, Local Taxes
Famous quotes containing the words taxation, republic and/or ireland:
“The Government is able to afford a suitable army and a suitable navy. It may maintain them without the slightest danger to the Republic or the cause of free institutions, and fear of additional taxation ought not to change a proper policy in this regard.”
—William Howard Taft (1857–1930)
“While the Republic has already acquired a history world-wide, America is still unsettled and unexplored. Like the English in New Holland, we live only on the shores of a continent even yet, and hardly know where the rivers come from which float our navy.”
—Henry David Thoreau (1817–1862)
“Out of Ireland have we come,
Great hatred, little room
Maimed us at the start.
I carry from my mother’s womb
A fanatic’s heart.”
—William Butler Yeats (1865–1939)