Tax study shows need for fundamental review and reform
Sinn Fein Dáil leader and Finance spokesperson Caoimhghín Ó Caoláin has said the Revenue Commissioners report on the tax paid by high earners shows the need for a fundamental review and reform of the tax system. Deputy Ó Caoláin said:
"The report confirms that the highest earners have been using property-based tax reliefs extensively to avoid paying tax. They were so successful in this that 29 of them ended up paying no tax at all in the year of the study, 2001.
"During the recent Dáil debate on the Finance Bill the Government refused to accept amendments, including one from myself, calling for a fundamental review of the system. This study shows such that such a review is needed now more than ever.
"The Revenue Commissioners cannot give us a breakdown of the type of property-based reliefs used by top earners to reduce their tax bill or to eliminate it altogether. We need that information so that, for example, Revenue can call to account those landlords who avail of tax reliefs and who at the same time refuse to comply with tenancy regulations by registering as landlords."ENDS