Irish Tax Take Declines

Categories: Taxation in Ireland

Tax revenues in Ireland fell 9 percent during the first eight months of the year, though the national Minister of Finance maintains that the economic recovery is still at an acceptable level with several key taxes performing better than expected. On September 3rd the latest tax revenues figures from Irish Tax and Customs were released, [...]

Tax revenues in Ireland fell 9 percent during the first eight months of the year, though the national Minister of Finance maintains that the economic recovery is still at an acceptable level with several key taxes performing better than expected. On September 3rd the latest tax revenues figures from Irish Tax and Customs were released, showing that tax receipts for the first eight months of the year reached EUR 18.9 billion, EUR 1.9 billion lower than the same period in 2009, but only ... Read More

Irish Tax Collection Close to Projections

Categories: Taxation in Ireland

Tax collections in Ireland for this year are only 1.4 percent behind the Government’s preset target, which is a clear sign of a stabilizing economy, according to the Department of Finance. The Irish Government collected approximately EUR 17.2 billion in gross tax receipts throughout the first seven months of 2010, according to the latest Exchequer [...]

Tax collections in Ireland for this year are only 1.4 percent behind the Government’s preset target, which is a clear sign of a stabilizing economy, according to the Department of Finance. The Irish Government collected approximately EUR 17.2 billion in gross tax receipts throughout the first seven months of 2010, according to the latest Exchequer Statement released August 4th. The tax revenue total was only EUR 247 million below the Government’s estimates, and an approximate EUR 1.5 billion less than in the same ... Read More

Refundable Tax Credit System Proposed in Ireland

Categories: Taxation in Ireland

A proposal has been raised in Ireland to introduce a system of refundable tax credits, whereby an estimated 113,000 low income earners would be entitled to receive extra tax refund payments. On July 6th the Green Party of Ireland released a statement supporting a Refundable Tax Credit (RTC) system. The RTC was proposed by Social [...]

A proposal has been raised in Ireland to introduce a system of refundable tax credits, whereby an estimated 113,000 low income earners would be entitled to receive extra tax refund payments. On July 6th the Green Party of Ireland released a statement supporting a Refundable Tax Credit (RTC) system. The RTC was proposed by Social Justice Ireland (SJI) in their report Building a Fairer Tax System: The Working Poor and the Cost of Refundable Tax Credits, released the previous day. The SJI, an ... Read More

US and UK are Biggest Offshore Deposit Locations

Categories: International Tax Cooperation, Offshore Banking, Offshore Taxation, Tax Havens, Taxation in Cayman Islands, Taxation in Germany, Taxation in Ireland, Taxation in Netherlands, Taxation in Switzerland, Taxation in UK, Taxation in USA

The US, UK and the Cayman Islands have been found to be the most popular locations for private non-resident deposits, representing nearly USD 2 trillion of worldwide investments, according to a newly issued report. Seeing the lack of availability of compiled data on offshore holdings, the report quantifies offshore deposits on a country-by-country basis. In [...]

The US, UK and the Cayman Islands have been found to be the most popular locations for private non-resident deposits, representing nearly USD 2 trillion of worldwide investments, according to a newly issued report. Seeing the lack of availability of compiled data on offshore holdings, the report quantifies offshore deposits on a country-by-country basis. In a report released on March 19th, Global Financial Integrity (GFI) revealed that worldwide private non-resident deposits held in secrecy jurisdictions has escalated to approximately USD 10 ... Read More