This time around, I am going to take a closer look at the incidence of taxation across various tax heads and agents of economy.
During the year, I have been consistently highlighting the problem of rising burden of taxation for the households - the core agency of any economy. In particular, the rising burden of income taxation. Here are two charts - one comparing 2007-2010 at H1 end and another comparing same years at year end:
Table below summarizes:
Interestingly, Minister Lenihan in his address relating to the release of December returns has gone out of his way to highlight two things:
- Increase in corporate tax returns, and
- Decrease in income tax returns
Let's highlight this for him, taking into account that both businesses and households are paying more than just corporate and income taxes:
No comment needed!