It’s a bold document, slaying many common tax myths.
Among its key findings are:
- Ireland has the second most progressive personal tax system in the OECD, with only Israel ranking higher.
- Irish taxpayers earning above the average industrial wage pay more personal tax than their counterparts in other countries
- Irish low-income taxpayers pay less personal tax than their counterparts elsewhere.
- 29% of income earners pay no personal tax whatsoever.
- The top 1% of income earners pay 22% of all income tax and USC. The bottom 75% pay just 19%.
- Our tax system continues to discriminate against the self-employed.
The Institute warns that the heavy tax burden on higher earners is likely to damage Ireland’s international competitiveness, both in attracting business investment and skilled workers to locate here.
It’s good to see these important issues being highlighted. Hats off to the ITI.