Tax incentives - Equity must be restored

ENCOURAGING investment will be a vital part of getting our economy back on its feet but that is no reason to tolerate blatant injustices in our tax system.

Over 400 of the country’s richest people cut their 2007 tax liabilities by utilising almost €290m in tax breaks. Of 439 individuals involved, 214 earned €500,000 or more while 225 earned up to €500,000.

The figures show that the 439 claimed just under €290m in tax breaks. This brought their effective tax rate under that of many workers.