Revenue crackdown on ‘tree tax break’
The Revenue has launched a crackdown on high earners with forestry investments who are accused of abusing a “tree tax break”.
There are limits on the use of tax reliefs by people earning over €125,000 per year to ensure that they pay an effective tax rate of 30 per cent per year.
The tree tax break is supposed to be limited under this scheme.
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EY reports €393m revenues in Republic of Ireland for 2021 financial year
Revenues in the Republic increased 9.5 per cent for the year up to June 2021 to €393 million, up from €359 million in the previous year