Top earners pay less than 5% tax

NEW figures from the Revenue Commissioners show 48 of the leading 400 earners in the State paid tax at less than 5% in 2003, up from 43 in 2002.

The number with an effective tax liability of 20% rose to 104, from 95 in 2002 and the Revenue stresses it was effective use of tax relief that helped many high net-worth individuals keep their tax obligations well below the outlay of ordinary citizens.

The 2003 report shows the majority of the 150 Irish citizens who paid less than 30% in tax used property-based capital allowances to slash their liabilities to the Revenue.