Taxation in The Republic of Ireland

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:

    “Whether talking about addiction, taxation [on cigarettes] or education [about smoking], there is always at the center of the conversation an essential conundrum: How come we’re selling this deadly stuff anyway?”
    —Anna Quindlen (b. 1952)

    “Universal empire is the prerogative of a writer. His concerns are with all mankind, and though he cannot command their obedience, he can assign them their duty. The Republic of Letters is more ancient than monarchy, and of far higher character in the world than the vassal court of Britain.”
    —Thomas Paine (1737–1809)

    “No people can more exactly interpret the inmost meaning of the present situation in Ireland than the American Negro. The scheme is simple. You knock a man down and then have him arrested for assault. You kill a man and then hang the corpse.”
    —W.E.B. (William Edward Burghardt)