The Government is to review a number of tax incentive schemes, including several that are used by rich people to pay less tax, it was announced today.
The Minister for Finance, Mr Cowen, said the review would include a public consultation process seeking submissions that would limit the use of tax breaks by high earners to avoid paying tax.
Mr Cowen said tenders had been invited from consultants to undertake separate studies into the impact, effectiveness, operation and cost of the two types of incentives.
They will examine renewal schemes, such as urban, rural and town renewal, as well as living-over-the shop tax breaks.
Property incentives, including those governing carparks; park and ride facilities; student accommodation; third-level buildings; hotels; holiday homes; nursing homes; private hospitals; sports injuries clinics; childcare facilities and the countrywide refurbishment scheme will also be examined.
In addition to public input, Mr Cowen welcomed submissions from the Opposition and the Social Partners on the tax schemes.
"I believe that this thorough and comprehensive review of the issues, and the consultation process, will provide an excellent resource for consideration by me regarding changes to be considered in this complex area in the context of the next Budget," Mr Cowen added.
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