All Irish nationals and persons domiciled here who earn more than €1 million in income worldwide, and who have capital located here worth more than €5 million, are to be charged an “Irish domicile levy” of €200,000.
The Minister for Finance, Brian Lenihan, said Ireland’s rules on non-residency for tax purposes were broadly in line with most OECD countries, but the Government must ensure that every wealthy Irish domiciliary who pays little or not income tax should make a contribution during a time of fiscal difficulty.
He said he would also be introducing measures to assist the Revenue Commissioners tackle the black economy and fight smuggling.