Revenue: Top earners paid as little as 15% tax in 2003
Figures released today from the Revenue Commissioners show that in 2003, 400 top earners in that year paid as little as 15% on their income, and three individuals paid no tax at all.
Figures for that year have only become available now.
This is down from six on the previous year. Overall the figure of 150 individuals, whose effective tax rate was less than 30 %, was unchanged
In a statement issued today, the Minister for Finance Brian Cowen said that changes in tax designation schemes already announced will mean that the very wealthy will pay more tax in future, but the Labour Party’s spokesperson on finance Joan Burton has criticised the figures saying that despite the Ministers’ past comments saying he will changes the schemes, wealthy individuals can avail of other means in order to reduce their tax bill.
Deputy Burton wants a fair deal for PAYE workers saying that there is one law for the very rich, and another for everyone else.
