Based on the fact that the Irish valuation system is the same since 2013 and property prices have increased, at the beginning of this year the Government wants to review property prices and to modify the valuation system so it does not affect Irish taxpayers. However, the revisal of the tax was only confirmed at the beginning of July and Fine Gael, Member of the Parliament, declared that no increases in the Irish tax should arise. The tax will first be reviewed by the Local Property Tax Authority.
The Revenue Service reminded Irish taxpayers they have until the end of June to participate in the tax avoidance settlement opportunity. Apart from the tax amnesty law, the current governing party also announced its intentions of reducing the marginal income tax rate below 50% for Irish employees after the general elections.