Institute hits out at high income tax rates

The levels of Irish income tax are now among the highest in the EU and are acting as an impediment to attracting foreign direct investment, according to the Irish Tax Institute.

In its pre-budget submission, the institute points out that last year a total of €23bn was collected between income tax, PRSI and USC.

This is €2bn higher than in 2007 when there were 200,000 more people in the workforce.