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The tax burden in Ireland increased by 1 percentage point from 27.3% to 28.3% in 2013. The corresponding figure for the OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Irish standard VAT rate is 23%, which is well above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.
This paper describes the features of the tax, recounts the story of its interplay between fiscal adjustment and helping meet the obligations to raise taxes, and implications for competitiveness and carbon leakage, environmental effectiveness and equity issues, and draws conclusions regarding why it happened, and provides tentative insights for other countries in a similar situation.
Bilateral Agreements that have been signed to establish exchange of information for tax purposes.
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a heavy toll on public finances.
OECD countries acknowledge that taxes must play a role in the process of fiscal consolidation as they battle unprecedented budget deficits. In 2010, the majority of OECD governments have stabilised their tax to GDP, with the average ratio moving up slightly from 33.8% in 2009 to 33.9% in 2010.
This report summarises the legal and regulatory framework for transparency and exchange of information for tax purposes in Ireland.
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Agreement between Ireland and Samoa for the exchange of information relating to tax matters
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Agreement between Ireland and Cook Islands for the exchange of information relating to tax matters
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Agreement between Ireland and Saint-Lucia for the exchange of information relating to tax matters
The fiscal consolidation challenge for Ireland is severe, the underlying budget balance having moved abruptly from surplus to a large deficit.