‘Unjustified’ tax reliefs to be removed as tax on deposits swell

TAX reliefs regarded as “unjustified” by Finance Minister Brian Lenihan will be removed while taxes on deposit accounts are set to increase.

Further abolition of tax reliefs are planned, according to Mr Lenihan, who said at this stage of the tax year it is not possible to introduce them for technical reasons.

He said, however, it is the intention of the Government to remove unnecessary reliefs and shelters from the tax system in successive budgets.