Dáil Éireann Debate, Thursday - 4 October 2012
21. Deputy Gerry Adams asked the Minister for Finance the way he plans to achieve a broadening of personal income tax base as promised to the international monetary fund in the letter of intent he signed in August 2011. [42260/12]
Amharc ar fhreagraIn the Memorandum of Understanding (MoU) under the EU / IMF Programme of Financial Support, which is reviewed quarterly with the Troika i.e. the European Commission, the International Monetary Fund and the European Central Bank, the Government has committed to consolidation measures for 2013 of at least €3.5 billion. It is proposed that this consolidation will be made up of a combination of revenue measures and expenditure reductions. In the MoU, Revenue measures to raise at least €1.25bn are proposed including:
- A broadening of the personal income tax base.
- A value-based property tax.
- A restructuring of motor taxation.
- A reduction in tax expenditures.
- An increase in excise duty and other indirect taxes.
As the Deputy will be aware, it is a long standing practice of Finance Ministers not to comment on any tax proposals that may be the subject of forthcoming Budget decisions.
