Tom Maguire: Income tax should work for taxpayers, not the other way around

Making the personal tax regime more appealing needs to be a key policy move for retaining and attracting foreign direct investment and key talent

Our current structure of personal taxes is complex and consideration should be given to simplifying the rules and maybe merging USC and income tax

The income tax system was subject to a public consultation which closed recently. Launching the consultation, Michael McGrath, the Minister for Finance, said that the government is committed to a review of the personal tax system. As the largest annual source of revenue for the exchequer, income taxes make a significant contribution to our public finances and play an important role in supporting a competitive economy.

Before getting into some suggestions, recent budgets referred to ...