Ireland has formed a new Commission on Taxation and Welfare; report will be submitted next July
DUBLIN: A new Commission on Taxation and Welfare has been formally established and its report will be submitted next year. The commission is tasked with reporting on the country’s taxes and reorganization matters, including interim and long-term financial assistance.
The previous Commission on Taxation had made a number of recommendations in 2009, including an annual property tax, water charges, carbon tax and a simplification of the income tax system. Some of them were controversial.
The current commission is expected to prioritize addressing the fallout from COVID Pandemic. The Commission may also consider issues such as the increase in national debt and financial assistance to the population according to age. The Commission will also report on the impact of global changes on corporate taxation in Ireland.
The new commission will be chaired by Dr Niamh Moloney, a professor of financial markets law and head of the law department at the London School of Economics. More members will be appointed in the coming weeks. The commission is expected to submit a report to the finance minister by July 1 next year.
Plans for the latest Commission were announced by the finance minister in the budget last October. The Commission needs to take into account the impact of taxes, welfare issues, COVID-19 pandemic, demographics, digital disruption and automation, as well as the cost of government commitments on health, housing and climate.
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