This was to be the tough Budget tackling public expenditures while ignoring taxation. While there is no doubt that major cuts have been made to government outflows, our tax experts at FGS, Ireland’s leading financial advisory firm, find that there are many tax issues contained in the Budget.
More tax is to be paid by those with higher incomes, €200,000 is to be paid by certain Irish passport holders and there is to be a property tax. These are a few of the new tax measures with indications of others coming down the line in 2011.
Three of our top tax experts work their way through these new taxes and explain how tax changes in the Budget may affect you.