Micheál Collins, economist with the Nevin Economic Research Institute, discusses a new study which shows that the poorest 10% pay a greater proportion of their income than the richest 10% You can read the report here.
Discussion and debate with Joe Duffy. Discussion about the NPPR charges and penalties continued today with callers expressing their frustration at the poor levels of communication to those who were due to pay the tax.
There is speculation that cuts in the universal social charge or tax changes may be on the cards as part of the Government’s October budget plans. Junior Finance Minister Simon Harris has hinted that tax cuts are being considered. But he said it is not yet clear what economic flexibility exists for this Government in its two remaining budgets. So could USC cuts be a real possibility or can the Government afford to loosen the purse strings? Joining Sean were Brian Keegan, Director of Taxation with Chartered Accountants Ireland and Political Editor of the Irish Independent Fionnan Sheahan.
Reports in the Financial Times this morning suggest further investigation – this time from Brussels – into Irish tax deals with major international companies. Following on from the American Senate’s comments earlier this year, it now appears that Europe’s top competition authority has asked the government to explain our tax rules and give details of tax assurances given to several companies, including Apple and Starbucks. Sean was joined by Richard Murphy, Director of Tax Research UK; Fergal O’Rourke, Head of Tax at PriceWaterHouse Coopers Ireland and Paschal Donohoe, Minister for European Affairs.