In an article in yesterday's Sunday Business Post, ICAI Chief executive Pat Costello describes the budgetary realities facing a Government needing to raise more taxes, and places business, property and income taxes in their proper context.
According to Mr Costello, the potential for raising significant additional revenues from capital or corporate taxes is non existent in the current environment. He also argues that any forms of property tax will be very difficult to introduce and would have little impact on the Government's current cash requirements. He suggests the focus should therefore be on income tax but with an emphasis on ensuring that our income tax regime retains its progressive nature.
The full article is available here