Greens recently blocked CGT reduction to 20%

Purple

Registered User
Messages
12,010
How so?

You are correct that VAT, excise and other indirect taxes are indeed very high in Ireland. But that's something different.
Te State is the biggest cost and the biggest spender within the State. They take the largest proportion of the cash within the economy and spend it. If they are inefficient then the country is inefficient. Inefficiency is the biggest driver of excess cost.
 

bbound

Registered User
Messages
19
Surely keeping CGT at 33% stops people from selling assets and its so prohibitive there must be a high percentage that don't declare it.

Reducing it would ensure more declare.
 

Zenith63

Registered User
Messages
926
Surely keeping CGT at 33% stops people from selling assets and its so prohibitive there must be a high percentage that don't declare it.

Reducing it would ensure more declare.
Interestingly the Dept of Finance argue that decreasing it would encourage more aggressive tax planning to shift what should be taxed as income into the CGT regime, whereas keeping income tax rates and CGT rates similar makes the risk of such activity less attractive.
 

Zenith63

Registered User
Messages
926
Saw this article and it reminded me of this thread, as we often draw and compare our tax strategies from the UK - https://www.google.ie/amp/s/amp.ft.com/content/3ee92359-ed49-49e9-b511-95129a1ac265

Overhaul of UK capital gains tax urged in review
A Rishi Sunak-commissioned review of capital gains tax has recommended slashing the annual allowance and aligning rates more closely with income tax in a move that could raise billions of pounds for the Exchequer.

The Office of Tax Simplification, a statutory body, on Wednesday published a highly anticipated report into CGT that concluded current rules were “counter-intuitive” and created “odd incentives” in several areas.
 

fidelcastro

Registered User
Messages
224
Te State is the biggest cost and the biggest spender within the State. They take the largest proportion of the cash within the economy and spend it. If they are inefficient then the country is inefficient. Inefficiency is the biggest driver of excess cost.
Yes, but when the chips are down, like now all sectors are running to the State to help.
Granted, there is a lot of room to improve efficiency
 
Top