Implementation 'will take several years'

Recommendations detailed in the the Commission on Taxation report will take several years to implement in full,  Minister for Finance Brian Lenihan said today.

Established in February 2008, the commission was tasked with reviewing the structure, efficiency and appropriateness of the Irish taxation system.

The report, chaired by former head of the Revenue Commissioners Frank Daly, was published this morning and contains over 200 recommendations.

In a statement released this morning, Mr Lenihan said the report's "longer term strategic perspective" and its "focus on the future" will help shape Irish taxation policy over the next decade.

"Given that focus, the implementation of the many complex and often inter-related recommendations in the report are likely to be phased in over several years," Mr Lenihan said.

He said the report will "contribute to meeting the immediate fiscal challenges" the country faces.

"This report will play a role in stabilising our public finances and improving our competitiveness."

"To achieve economic recovery we must address the different challenges that we face: stabilise our public finances, resolve the difficulties in the financial sector, and improve our competitiveness at the same time," he said. "This report will play a role in stabilising our public finances and improving our competitiveness."

The Minister said the primary function of the tax system is to provide resources to finance public expenditures, to achieve income and wealth redistribution and to address social and environmental concerns.