Brendan Burgess
Founder
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Chapter 4: Fiscal Sustainability
4.1 The Commission recommends that given the medium- to long-term threats to fiscal sustainability, the overall level of revenues raised from tax and Pay Related Social Insurance as a share of national income must increase materially to meet these challenges. These increased yields should be obtained in a manner that minimises economic, social and environmental costs.
Chapter 5: Balance of Taxation
5.1 The Commission recommends that Government continue to focus on broadening the base of taxation across all categories of taxation.
5.2 The Commission recommends that Government should focus on maintaining the progressivity of the existing personal taxes system without further erosion of the Income Tax or Universal Social Charge base. Future base-broadening reforms should focus on Pay Related Social Insurance and on addressing horizontal equity concerns.
5.3 The Commission recommends that long-term over- dependence on Corporation Tax receipts poses significant sustainability risks and should be avoided. The Commission supports proposals to target the use of excess receipts in this area towards the Rainy-Day Fund or to reduce debt rather than fund tax reductions or permanent increases in expenditure.
5.4 The Commission recommends incrementally broadening the base of consumption taxes placing emphasis on limiting the use of zero and reduced rates of Value Added Tax. A number of environmental- related taxes and reforms to existing taxes should be introduced to replace revenue streams and support the transition to a low-carbon economy.
5.5 The Commission recommends that overall yield from wealth and capital taxes, including property, land, capital acquisitions and capital gains taxes should increase materially as a proportion of overall tax revenues.
4.1 The Commission recommends that given the medium- to long-term threats to fiscal sustainability, the overall level of revenues raised from tax and Pay Related Social Insurance as a share of national income must increase materially to meet these challenges. These increased yields should be obtained in a manner that minimises economic, social and environmental costs.
Chapter 5: Balance of Taxation
5.1 The Commission recommends that Government continue to focus on broadening the base of taxation across all categories of taxation.
5.2 The Commission recommends that Government should focus on maintaining the progressivity of the existing personal taxes system without further erosion of the Income Tax or Universal Social Charge base. Future base-broadening reforms should focus on Pay Related Social Insurance and on addressing horizontal equity concerns.
5.3 The Commission recommends that long-term over- dependence on Corporation Tax receipts poses significant sustainability risks and should be avoided. The Commission supports proposals to target the use of excess receipts in this area towards the Rainy-Day Fund or to reduce debt rather than fund tax reductions or permanent increases in expenditure.
5.4 The Commission recommends incrementally broadening the base of consumption taxes placing emphasis on limiting the use of zero and reduced rates of Value Added Tax. A number of environmental- related taxes and reforms to existing taxes should be introduced to replace revenue streams and support the transition to a low-carbon economy.
5.5 The Commission recommends that overall yield from wealth and capital taxes, including property, land, capital acquisitions and capital gains taxes should increase materially as a proportion of overall tax revenues.