Amazing that there's not more objection to LPT

[Jon Snow]

LPT is a self assessed tax. It is based on the market value of your property. Market value is defined as the amount something can be sold on a given market. If Revenue send you out a valuation of what they think the market value is of a property in your area why would you pay more than this estimate?

Because it's not a valuation. It's a very loose estimate, without the property, its condition, or any of a number of other relevant factors being considered...

 

[horse7]

This tax does not feature with any of the main candidates in the upcoming election. I am of the opinion that it should be related to one's income.

 

[T McGibney]

I am of the opinion that it should be related to one's income.

Then its just another income tax.

 

[T McGibney]

Sinn Fein say they will abolish it .

Yet the council tax they impose in Northern Ireland is much heavier than the LPT is.

 

[44brendan]

Sinn Fein are opposed to LPT. This falls nicely into their Socialist agenda

 

[Agent 47]

LPT and Water charges are a tax on breathing, even when one retires we will still have to pay for them unless they are eliminated. I have brought this directly to FG when they arrived on my door. We pay enough bloody taxes on everything else that should make up for it.

 

[Protocol]

They are not a tax on "breathing", you might be thinking of a lump-sum poll tax.

A poll tax per person was introduced in the UK in 1989, but was not politically popular.

Also, please note that taxes in Irl are lower than average, compared to most countries.

 

[Gerard123]

Also, please note that taxes in Irl are lower than average, compared to most countries.

What countries are you comparing to or thinking of?

 

[Protocol]

Most continental states, UK.

Not the USA, taxes are lower there.

See the diagram below of total tax revenue as a % of GDP, 2013 and 2014.

 

[Protocol]

 

[Protocol]

This diagram shows total Govt revenue and expenditure:

 

[Leo]

We pay enough bloody taxes on everything else that should make up for it.

If that were true we wouldn't be borrowing so heavily to make ends meet.

 

[T McGibney]

Most continental states, UK.

Not the USA, taxes are lower there.

See the diagram below of total tax revenue as a % of GDP, 2013 and 2014.

All Irish economic stats based on GDP are flawed as our GDP is grossly inflated by multinational transfer pricing. That's why the more tax lobby will never use the more meaningful, and equally accessible, GNP figures when compiling national tax % statistics relative to other economies.

 

[Protocol]

Yes, that's true.

And it's a pity that Eurostat don't also quote data as a % of Irish GNP/GNI.

When you make the adjustment, the overall tax levels would increase from about 31% of GDP to about 36% of GNP.

So we are neither a high tax, nor a low tax economy. The EU average is 40%.

More like just below average taxation levels, with maybe 12 countries ahead of us.