Tax figures demonstrate need for increased restrictions on the use of specified tax reliefs - Morgan
Sinn Féin's Arthur Morgan has today said that the figures published by the Revenue Commissioners which show that the State's top 50 earners paid less than 5% tax was further evidence of a lax tax regime when it comes to high income earners. Morgan called for the introduction of further restrictions on the use of specified tax relief's to ensure that high income earners pay their fair share of tax.
Deputy Morgan said:
"The figures which show that State's top 50 earners paid less than 5% tax is no surprise.
"Sinn Féin has been to fore in pointing out the deficiencies of the current tax regime whereby certain high income individuals are able to exploit elements of the tax system to reduce their tax liability to what ends up being a nominal amount.
"The Government must address this issue without further delay. Sinn Féin has proposed they do so by increasing restrictions on the use of specific tax relief's by high income individuals.
"Sinn Fein has suggested one way of addressing this taxation inequality between high and lower income earners would be to set a maximum of 10% of income exempt from taxation as a result of the use of specified relief's." CRÍOCH