After all is said and done, tax happens

After all is said and done, tax happens

Government is refusing, as a stated tax-raising measure, to index tax bands and allowances as the economy recovers. Therefore, as incomes recover, we pay proportionately more tax on them

The first week of a new year is often seized upon as a time for warning of things to come. In general, tax is easy to predict because it’s a certainty that tax will happen. We now know much of the detail of how it will happen, as the Finance Act 2017, which gives effect during 2018 to last October’s budget announcements, was signed into law by the President on Christmas Day. Most commercial activities in Ireland are suspended for that one day of the year, but it seems the ship of state must continue to sail regardless.

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