Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Just five millionaire tax exiles have paid the levy this year. AP Photo/Matthias Rietschel/File
tax exiles
Guess how many Irish tax exiles have paid the new 'rich tax'?
The levy was brought in to encourage super-rich tax exiles to pay their fair share – but funnily enough, they’re not exactly lining up to pay…
A ‘rich tax’ brought in to encourage tax exiles to pay their fair share has been branded “totally ineffective”- after figures revealed that just five people have paid it this year.
The Domicile Levy was introduced by Brian Lenihan in his Budget for 2010 to target wealthy Irish tax exiles who earn more than €1 million a year and also have assets of over €5 million in Ireland. The move required the exiles to pay a levy of €200,000 per year, regardless of where they are tax resident.
However figures obtained by Labour TD Gerald Nash show that just €880,000 has been brought in by the tax, and that just five exiles have so far paid it this year.
Nash described the domicile levy was “mere window dressing” and said that it had proven “totally ineffective”.
It is sickening to see vastly wealthy tax exiles turning up at ego boosting charity events dispensing their largesse like colonial overseers whilst refusing to pay tax like ordinary citizens. I would urge the Minister to address this and introduce a levy with real bite.
The deadline for returns was 31 October, but those using the on-line payment service have until 15 November to pay – so it is still possible that there will be an increase in numbers in the week before the final deadline.
have your say