Finance Bill could be worth €100m

THE Finance Bill to be delivered later today by Finance Minister Brian Cowen TD could boost Revenue returns by as much as €100 million from 2008 - the earliest year the new regime would see cash flowing into the State coffers.

It is likely the Bill will abolish the Remittance Tax loophole where executives working for overseas companies in Ireland can receive their salary outside the jurisdiction and pay tax only on the money they remit or bring into the State in order to support themselves.

The Bill is also expected to introduce a new tax relief scheme for properties donated to the State and it will probably include measures to boost the take-up of pensions for individuals on low incomes.