The Government’s new Commission on Taxation is to start work today after Finance Minister Paschal Donohoe announced the 14-member panel yesterday. Two key areas to be addressed are long-term demographic pressures on both tax and spending, as well as the implications of international reform on corporation taxes. The commission is expected to issue a report to the minister in July 2022 after a series of public consultations on how best to arrange the public finances to meet the economic challenges of the future. This is only the fourth time in the history of the State that a Commission on Taxation and Welfare has been convened. The most recent commission in 2009 was responsible for making recommendations to institute local property taxes, carbon taxes and water charges – all highly contentious revenue-raising measures.

Source: Irish Independent June 04, 2021 01:40 UTC