Income tax will not be raised in next budget, Donohoe says

03 of September, 2020
Filed under: Latest News

Minister for Finance Paschal Donohoe has said there will be no hike in income tax in the forthcoming budget.

Speaking in Dublin this afternoon, Mr Donohoe said “the final piece of the jigsaw” is the September tax returns and he will be in a better position to make an assessment of the country’s finances then.

“But for Budget 2021 in particular, this budget coming up, I’m not planning to go to Government with plans to increase income tax.”

Mr Donohoe said tax receipts have held up well over the pandemic.

“The tax receipts across June, July and August particularly in relation to income tax did show that the combination of having a very broad number of jobs in our country, and a personal tax code that has remained very broad and very fair in that period, has meant that our personal tax receipts are holding up quite well,” Mr Donohoe said.

“In terms of what that says about our economy, it does indicate to me that momentum is building within our economy.

“This is why decisions in relation to the medium term plan for public health are so important.

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