New taxes on property, carbon and water charges expected

It is now expected that the report of The Commission on Taxation will propose new property and carbon taxes as well as domestic water charges.

The proposals are due to be given to the Government later this month.

The Commission on Taxation was given the brief of drawing up a framework that would help map out tax policy for the next ten years at least.

The overall goal was to reward work and keep taxes low by spreading the burden in a fair manner.

The Commission has responded with the production of a lengthy document detailing changes to the income tax regime, the introduction of a new property tax and water charges and a new levy aimed at cutting greenhouse gas emissions.

That report now goes to the Cabinet later this month with publication expected next month and the first of its recommendations likely to be included in the winter Budget.