Government targets high earners as bell tolls for Cinderella clause

TOP earners were faced with a tougher tax regime last night as the backlash against the budget forced the Government to target them.

People who Finance Minister Brian Lenihan branded Ireland’s “super rich”, will no longer be able to avoid tax by jetting in and out of the country on the same day.

Under existing tax law multi-millionaire exiles do not pay tax here if they reside less than 183 days in the Republic a year, but the Cinderella clause allowing them to claim they did not spend a day in Ireland if they leave before midnight will be abolished as part of the Finance Bill giving effect to budget measures.