THE WEALTHY WHO REFUSE TO PAY THEIR WAY

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1427
tax avoidance

By Liam Deegan

In 2010 Brian Lenihan introduced a levy on the rich and powerful for the paltry sum of €200,000 per year. Living here or abroad made no difference as it equally applied to those wealthy individuals who made the lifestyle choice to stay or go. However and in true Irish style, those who can pay don’t want to pay and many have managed to ignore the Revenue Commissioners since the levy was introduced.

The figure given by the Revenue Commissioners stands at around 540 individuals who are obliged to pay the annual levy but it seems that 526 very wealthy individuals have paid nothing to date. Those that did pay, paid a total of circa €12 million into the coffers but those who thus far have refused to pay, now owe a total of €420 million in levy since 2010.

Many of these individuals live here and are still doing business here, day in, day out but there are also a number of non domiciled wealthy individuals who are constantly in an out of the country that have also refused to pay the levy. This is an indicator of the level of disdain that these individuals have for this country and its fellow country men and women who are forced to pay tax after tax that has been forced upon them since 2010.

Meanwhile Michael Noonan has refused to make changes to the legislation that targets wealthy exiles to pay more tax here, saying that he was “worried about the loss of foreign direct investment if rules were changed”.

The rich are getting richer by the day with the help of our government. You try it on with the Revenue and banks and see how far you get before you are hounded into an early grave.

Still want to pay that property tax now?