Tax Strategy Papers – Budget 2019

Aug 07, 2018

The annual tax strategy group papers scoping out tax possibilities for the upcoming Budget 2019 were released last week.  While the papers list out issues to be considered in the budgetary process, they are recommendations to inform the lawmakers rather than decisions. 

Most noteworthy is a paper suggesting that the 9 percent VAT rate has served its purpose and would not be detrimental to the economy if it was removed.  Other recommendations to note include a proposed increase in the standard rate band threshold, increasing the earned income tax credit for the self-employed and changes to the CAT thresholds and small gift exemption.  Suggestions to restrict corporation tax losses accumulated to banks were not viewed as feasible and there was little mention of measures to ease the housing crisis or measures to support landlords remaining in the rental market.

The following papers have been published: