ICAI Budget Bulletin
C. Capital Taxes and Other Changes
A. Income Tax
The Minister for Finance introduced his changes to income tax, income levy and PRSI by summarising that a person earning the minimum wage, which is about €17,500 per year, will be asked to pay €350 per annum or €7 per week, representing 2% of their wages; a person earning €50,000 per year will pay €1,500 or €29 per week, which is 4% of their income; a person earning €300,000 per year will pay €15,655 or €300 per week, or 9% of their income.
However, the key aspect to analysing the change in a taxpayer's take-home pay is the change in thresholds. For example, a person earning €100,000 has to pay an additional €4,600 (and not double €1,500 that a person earning €50,000 has to pay). The reason for this exponential increase is that €75,000 is now the threshold for the PRSI ceiling, the threshold for the 4% income levy and the threshold for the higher health levy.
Income Levy – from 1 May
The income levy rates will be doubled to 2%, 4% and 6%. The exemption threshold will be €15,028. The 4% rate will apply to income in excess of €75,036 and the 6% rate to income in excess of €174,980. The income levy rates have doubled and the exemption threshold on which the income levy will apply will be reduced from €18,304 to €15,028. This means that taxpayers with gross income over €15,028 will face the following income levies rates:
- 2% up to €75,036
- 4% from €75,037 to €174,980
- 6% on income over €174,980
For an earner with €75,000 gross income, the rate increase will represent a jump from €750 pa to €1,500 pa in their income levy liability. The income levy was always the most likely weapon of choice for the Government to use to help plug the large tax revenue deficit realised in Quarter 1 of 2009.
This is down to that fact that the income levy involves the least administrative problems to actually implement from 1 May onwards, with no requirement to issue an amended Certificate of Tax Credits and Rate Bands and hence no major payroll upheaval. It also takes a cut from the taxpayer's gross income before relief for any capital allowances, losses or pension contributions and therefore has the ability to yield the maximum tax revenue.
There are no details in the budget release to indicate if the income levy exemption threshold for taxpayers over 65 years of age will be affected. Under its first incarnation this year, over 65s are not liable to the income levy if income is €20,000 or less for a single individual or €40,000 or less for a married couple where at least one person is 65 years or more.
PRSI & Health Levy – from 1 May
The PRSI ceiling will be increased from €52,000 to €75,036. The health levy rates will double to 4% and 5%. The entry point to the higher rate will be €75,036.
From 1 May 2009, the PRSI ceiling will increase from €52,000 to €75,036 and the Health Levy rates are set to double from 2% to 4% and 2.5% to 5%. The Health Levy rate increase will have maximum punch due to the reduction in the top threshold from €100,100 to €75,036. This means earnings of €75,037 will incur health levies of 4% with the 5% Health Levy applying thereafter.
The hikes in the PRSI ceiling and health levy threshold will certainly fulfill the Minister for Finance's objective that those “who have most will give most” but the increase will also mean that the median wage earner will see a significant cut in his/her take home pay from 1 May 2009.
Mortgage Interest Relief
Mortgage interest relief will be discontinued for any mortgage over 7 years from 1 May.
This change means the relief will now be targeted on those who bought their homes when prices were at their peak. It will also support those who now wish to move, improve or buy for the first time.
This change in the relief is far from straightforward and it will be necessary to review the Finance Bill to be satisfied on the various mortgage scenarios and whether mortgage interest relief will apply.
Mortgage interest relief will be discontinued for any mortgage over 7 years from 1 May 2009. Seven years is treated as the stage at which home owners are no longer classified as first-time buyers for the purposes of mortgage interest relief. The relief will be allowed on a pro-rata basis for the first 4 months of 2009 so there is no danger of a clawback of relief granted to date. Therefore, the home owners affected by this change will receive relief of up to €150 if single or €300 if married or widowed subject to paying sufficient mortgage interest to avail of the relief for the first four months of 2009. If a home owner with a mortgage of seven years or more takes out a new mortgage with additional borrowings used for repairs and improvements to his/her home, then the top up element will qualify at 15% for another seven years.
Restriction in Interest Relief – Rented Residential Property
The level at which interest re-payments can be claimed against tax for residential rental properties is being reduced from the existing 100% to 75%.
This measure will apply to both new and existing mortgages. Commercial properties are not affected.
Deposit Interest Retention Tax (DIRT) and Taxes on Life Assurance Policies and Investment Funds
In a move to treat all sources of income in a similar manner, tax on savings also made the Minister's hit list of budgetary increases. Deposit Interest Retention Tax and Taxes on Life Assurance Policies and Investment Funds are increased by 2 percentage points in each case and will now be 25% and 28% respectively. The increased rates will apply to payments, including deemed payments, made from midnight on 7 April 2009.
A new levy on life assurance is being introduced at the rate of 1% on premiums. This new levy will apply to premiums received by an insurer on or after 1 June 2009.
The current non-life insurance levy of 2% is being increased by 1%. The new rate of 3% will apply to renewals and offers of insurance issued by an insurer on and from midnight on 7 April 2009 where premiums are received by the insurer on or after 1 June 2009.
Public Service Pension Levy
The Minister is reviewing the operation of the public service pension levy to address any issues of fairness. By taking into account of the impact of the tax measures announced in the Budget, the Minister is proposing a slight recasting of the structure of the levy to reduce the impact on the lowest paid public servants with a small increase at the higher levels.
B. Business Taxation
This Budget was really about a quick way of increasing the tax revenues, with the main emphasis being on ways to increase income tax and the various levies. Even though the Minister specifically mentioned measures to help stimulate the economy, these were few and far between.
The key announcement from a business perspective is the retention of the 12.5% corporation tax rate as a key aspect of our inward investment strategy. There is no limit to the number of times this announcement should be made. The 12.5% rate is the cornerstone of Ireland's attractiveness for inward investment. Investors in Ireland and those considering investing in Ireland require reassurance and guarantees. This announcement offers reassurance and provides a guarantee and is to be welcomed.
Capital Allowances
Given with one hand ...
A scheme of tax relief for the acquisition of intangible assets, including Intellectual Property is being introduced as a means of supporting the Smart Economy.
The current reliefs for investment in intangible assets are a hotchpotch of measures which allow relief for certain intangibles while disallowing relief for others. Currently, there are different capital allowances regimes available for software and patents; there are also different reliefs available for know-how, scientific research, and a tax credit system for R&D spend. There is no relief available for goodwill and other IP assets such as trademarks, brands.
In the context of promoting the knowledge based economy and making Ireland attractive for IP intensive inward investors, ICAI has called for an overhauling of this collection of reliefs in such a way as to provide real incentive, expansion of scope and consistency of treatment. The Minister's Budget announcement is to be welcomed.
However, it will be crucial that the underlying details are investor-friendly. Too often, Ireland introduces some very worthwhile measures to encourage foreign direct investment but the complexities make them almost impossible to sell.
The details of the scheme are being worked on, and will be published in the Finance Bill. It is anticipated that this measure will help to attract high quality employment to this economy.
... and taken away with the other ...
On the other hand, property-related accelerated capital allowance schemes in the Health Sector are being terminated. This scheme covers private hospitals, registered nursing homes, convalescent homes and associated residential units as well as mental health centres. Transitional arrangements will be put in place for projects that are at an advanced stage of development. The Finance Bill will contain further details on this measure. It should be noted that schemes for palliative care units and childcare facilities will remain in place.
While it is recognised that reliefs have a certain lifespan, the Minister's appreciation of the importance of reliefs was noted when he stated “It is the intention of the Government to continue to remove unnecessary [our emphasis, not the Minister's] reliefs and shelters from the tax system in successive budgets.”
Capital Gains Tax, Income Tax and Corporation Tax
Rate of Capital Gains Tax
The capital gains tax rate is being increased from 22% to 25% in respect of disposals made from midnight on 7 April 2009.
Income and losses from dealing in residential development land
- The special 20% rate applied to the trading profits from dealing in or developing residential development land is being abolished. The income will be charged at the person's relevant marginal rates of income tax or the 25% rate of corporation tax.
This change will apply as regards Income Tax for the year of assessment 2009 and subsequent years and as regards Corporation Tax for accounting periods ending on or after 1 January 2009 (with accounting periods straddling that date being deemed for this purpose to be separate accounting periods). - Where trading losses have been incurred from dealing in or developing residential development land in circumstances where, if trading profits had been made, they would have been eligible to be taxed at 20%, and a claim to use those losses has not been made to and received by the Revenue Commissioners before 7 April 2009, the losses from today will generally only be relievable (on a value basis) up to a maximum of 20%. Where any such loss is a terminal loss, the restriction will be implemented by “ring-fencing” the loss.
Full details of both changes will be contained in the Finance Bill.
Stamp Duty
Stamp Duty “Trade-in” Scheme
This measure involves the establishment of a Stamp Duty “trade-in” scheme, under which no stamp duty is payable by a person who accepts a traded-in property in exchange or part exchange for a new house/apartment.
Stamp Duty will apply when the person subsequently sells on the ‘swapped’/traded-in property.
The measure is being introduced to address the overhang of unsold properties.
Full details of this initiative will be contained in the forthcoming Finance Bill and it is envisaged that the scheme will apply from the date of publication of the Finance Bill to 31 December 2010.
Life Assurance Policies
A new levy on life assurance is being introduced at the rate of 1% on premiums. This new levy will apply to premiums received by an insurer on or after 1 June 2009.
Non-Life Insurance Policies – Change in Rate of Tax
The current non-life insurance levy of 2% is being increased by 1%. The new rate of 3% will apply to renewals and offers of insurance issued by an insurer on and from midnight on 7 April 2009 where premiums are received by the insurer on or after 1 June 2009.
Conclusion
It is recognised that this Budget was a form of emergency to bridge the gap in the public finances. It was always going to be about increasing income tax (in its various forms and guises). On initial reading of the Budget documentation, the effect on businesses would appear to be minimal. However, as with the increase in the standard VAT rate by 0.5% in the October Budget and the subsequent fall-out, only time will tell if the Minister has got it right or whether he has gone so far in his measures as for them to be a disincentive to business and hence the economy.
C. Capital Taxes and Other Changes
Changes to the Capital Taxes rates were made, along with miscellaneous changes to some other taxes and allowances
CAPITAL GAINS TAX
The capital gains tax rate is being increased from 22% to 25% in respect of disposals made from midnight on 7 April 2009.
CAPITAL ACQUISITIONS TAX
Rate
The capital acquisitions tax rate is being increased from 22% to 25% in respect of gifts or inheritances made from midnight on 7 April 2009.
Threshold
The current thresholds of €542,544 (Group A: parents to child), €54,254 (Group B: between related persons), and €27,127 (Group C: between non-related persons) are being reduced by 20% to €434,000, €43,400 and €21,700 respectively.
This reduction applies in respect of gifts or inheritances taken from midnight on 7 April 2009. In an unexpected move, the rate of CAT along with CGT is set to increase from 22% to 25% at midnight on 7 April. The Minister also felt the need to reduce the tax free group thresholds by 20% to “in the light of declining asset values”. That means that the following changes are now in effect:
- Group A €542,544 reduces to €434,000
- Group B €54,254 reduces to €43,400
- Group C €27,127 reduces to €21,700
Any practitioner working on a CAT calculation for 2009 must contend with two rates of CAT and tax free group thresholds and at the very least, the changes will add to the compliance burden in working out the CAT liabilities. And that's before the client can even get bothered about finding funds to pay CAT on benefits of property for which there is little or no market.
EXCISES
Auto-diesel will be increased by 5 cent per litre with effect from midnight on 7 April 2009.
A packet of 20 cigarettes will be increased by 25 cent from midnight on 7 April 2009.
VAT
Introduction of VAT Margin Scheme for Second-hand Cars
A Margin Scheme is being introduced with effect from 1 July 2009 whereby dealers will be taxed on their margin in regard to second-hand cars they acquire and resell after that date.
Second-hand cars acquired before 1 July 2009 and resold after that date will be taxed on their resale price. However, where such a second-hand car is resold before 31 December 2009 the payment of the VAT due on the resale price of the car may be spread in equal amounts over the following three VAT periods. It is not possible to write off the VAT input credit dealers have already received when they purchased the second-hand cars.
The precise details will be contained in the Finance Bill.
D. The Long Term Picture
There's no shelter from Minister Lenihan's tax measures today. The Income Levy, the Health Contribution and the PRSI ceiling adjustments are among the forms of tax charge least susceptible to any form of allowance or relief. Taken together, over the remaining eight months of the year, they are expected to bring in an additional €1.322bn.
This is a significant amount of money, predicated on significant incomes. There must be a concern for Government that, harsh as the increases are, the yield might not be realised. Pay cuts, as well as job losses, are the order of the day which will compromise the anticipated amounts collected. Perhaps even more significant is the performance of the self employed sector, which accounts for about 20% of the income tax yield. The likely outturn here will not be known properly until next November.
Now that we know the picture for the rest of 2009, what of the future? According to the Minister –
“In 2010, we will seek up to an additional €1.75 billion from taxation. In 2011, the target will be to raise up to an additional €1.5 billion. Options to raise this may include the taxation of Child Benefit, the introduction of a Carbon Tax, a form of property tax and significant further base broadening through the elimination of unnecessary reliefs and a review of all areas of tax exempt incomes.”
Again, €1.75bn and €1.5bn are significant sums. To put these into context however, all the tax increases introduced today would (according to the official figures) bring in €3.621bn. So we can expect more of the same to be announced in early December 2009 for the 2010 Budget, but only half as tough! And the same again twelve months later.
Context is important for the Department of Finance as well. Part of the Budget documentation includes tables of effective tax rates for various categories of earners in recent years. Those married with one income might have to go back as far as 2000 to see comparable overall levels of tax, though inflation would also have had a bearing. We all did best apparently in 2008, and perhaps this is the sharpest source of the pain – the jump in taxation from last year to this.
There's no particular indication in the Budget documentation as to how taxes will be approached in 2010. The report of the Commission on Taxation will clearly have a bearing, and they will be “examining various aspects of pension tax treatment including the treatment of lump sums” which the Minister expects to be dealing with in the 2010 Budget next December. Nor is there any indication that the current three phase system of personal taxation – Income Tax, then PRSI and Health Contribution, and then the Income Levy which to all intents and purposes are standalone charges – will be homogenised into a single system.
The uncertainty both in the business community and among consumers has been a huge factor in the recent economic downturn. Most people realised that the country could not sustain the current levels of public expenditure with the taxes being collected, and that additional taxes would have to be raised. It seems that Income Tax is the only show in town at present.
The Minister re-affirmed his commitment to preserving the 12.5% rate of Corporation Tax. He has raised Capital Taxes – CGT and CAT to 25% and it is noteworthy how little he expects these increases to yield. He anticipates €15m for each additional percentage point from CGT, which suggests assessable gains of just €1.5bn in 2009. In 2007, the TAX was twice that amount.
A property tax remains on the Minister's agenda, but it's fair to point out that the restriction on interest relief on rented residential property to 75% of the interest paid is, in effect, just such a property tax. The last time this interest relief was restricted, back in 1998, the relief was abolished in full for new borrowings – old borrowings were unaffected. The new 75% restriction applies to all property.
Excise was treated with a light hand. The price of Auto Diesel will be closer to the price of petrol following the 5 cent increase per litre. Tobacco has increased, but not by habit changing amounts. Perhaps the habit the Minister did not want to change was the habit of buying cigarettes in shops, duty fully paid.
While Financial Resolutions have been published to give effect to immediate changes such as excise changes and changes to the capital taxes increases, we are promised a Finance Act to deal with the elimination of Capital Allowances for private hospitals and nursing homes. This Finance Act will also contain details of a new tax relief on capital expenditure incurred in the acquisition of Intellectual Property. If the relief is effective, it will be very welcome, not least because it is one of a tiny number of reliefs in what was an overwhelmingly tax raising Budget.
E. Press Release
Success of the Budget will be determined by its impact on business and consumer confidence and competitiveness – ICAI
Maintaining competitiveness is the only sure way to secure existing jobs and create new jobs both for the private and the public sectors, according to the Institute of Chartered Accountants in Ireland.
“The Minister's task today was twofold – to halt the increase in money spent over taxation raised by Government, and to reintroduce some stability and confidence back to the economy. Given the size of our deficit, he could only begin to curb the growth in our National Debt, but we feel that matching additional taxation with cuts in spending is a sustainable strategy, provided that a focus remains on cuts on current expenditure” according to ICAI Director of Taxation Brian Keegan.
The tax and expenditure measures announced today will be difficult for all citizens. While the taxation measures will clearly be implemented, the proposals to moderate the size and cost of the Public Sector must be followed through. This will be essential to ensuring that taxes can be kept at acceptable levels in the future, and that the National Debt will not grow out of control. Both are key elements in improving Irish competitiveness.
One of the most important components of the Minister for Finance's announcement today is the longer term strategy to tackle our economic situation. “The uncertainty both in the business community and among consumers has been a huge factor in the recent economic downturn. Most people realised that the country could not sustain the current levels of public expenditure with the taxes being collected, and that additional taxes would have to be raised. This uncertainty has choked off investment and consumer spending alike” said Keegan. “We now have clear indications, if not specifics, as to the burden of taxation in the coming years”.
ICAI looks forward to seeing the details of the proposed incentives for investment in Intellectual Property, and also acknowledges the Minister's ongoing commitment to preserving the 12.5% rate of Corporation Tax. “A useful tax regime, comparable with international standards, for the treatment of Intellectual Property is an important component in developing our knowledge economy”.
F. Summary of Tax Measures
Contains a summary of all the key budgetary measures announced by Minister Lenihan, including income tax, income levies, PRSI and health levies, capital gains tax, capital acquisitions tax, stamp duty, excise and VAT.
INTRODUCTION
The Minister set the scene for the wide-ranging tax increases he introduced in the Budget by advising that the share of tax revenues that go to service the national debt has risen from 5% in 2007 to more than 11% this year. In terms of figures, in 2010 an additional €1.75 billion from taxation is being sought from tax revenues; while in 2011, the target will be to raise up to an additional €1.5 billion.
The Minister suggested that a key structural weakness of the Irish taxation system is the narrow base. In his words, too many people did not pay tax at all and there were too many ways in which those who had wealth could shelter their income. The Minister has introduced a number of measures to broaden the tax base so that more people will make a contribution.
In addition a number of reliefs have been removed and rates of capital taxes have increased.
The key announcement from a business perspective is the retention of the 12.5% corporation tax rate as a key aspect of our inward investment strategy.
INCOME LEVY, HEALTH LEVY AND PRSI
Income Levy – from 1 May
The income levy rates will be doubled to 2%, 4% and 6%. The exemption threshold will be €15,028. The 4% rate will apply to income in excess of €75,036 and the 6% rate to income in excess of €174,980.
Health Levy – from 1 May
The health levy rates will double to 4% and 5%. The entry point to the higher rate will be €75,036.
PRSI – from 1 May
The PRSI ceiling will be increased from €52,000 to €75,036.
INCOME TAX
Mortgage Interest Relief
Mortgage interest relief will be discontinued for any mortgage over 7 years from 1 May.
This change means the relief will now be targeted on those who bought their homes when prices were at their peak. It will also support those who now wish to move, improve or buy for the first time.
This change in the relief is far from straightforward and it will be necessary to review the Finance Bill to be satisfied on the various mortgage scenarios and whether mortgage interest relief will apply.
Restriction in Interest Relief – Rented Residential Property
The level at which interest re-payments can be claimed against tax for residential rental properties is being reduced from the existing 100% to 75%.
This measure will apply to both new and existing mortgages. Commercial properties are not affected.
Deposit Interest Retention Tax (DIRT) and Taxes on Life Assurance Policies and Investment Funds
The rates of retention tax that apply to deposit interest, together with the rates of tax that apply to (a) life assurance policies and (b) investment funds, are being increased by 2 percentage points in each case and will now be 25% and 28% respectively.
The increased rates will apply to payments, including deemed payments, made from midnight on 7 April 2009.
Public Service Pension Levy
The Minister is reviewing the operation of the public service pension levy to address any issues of fairness.
STAMP DUTY
Stamp Duty “Trade-in” Scheme
This measure involves the establishment of a Stamp Duty “trade-in” scheme, under which no stamp duty is payable by a person who accepts a traded-in property in exchange or part exchange for a new house/apartment.
Stamp Duty will apply when the person subsequently sells on the ‘swapped’/traded-in property.
The measure is being introduced to address the overhang of unsold properties.
Full details of this initiative will be contained in the forthcoming Finance Bill and it is envisaged that the scheme will apply from the date of publication of the Finance Bill to 31 December 2010.
Life Assurance Policies
A new levy on life assurance is being introduced at the rate of 1% on premiums. This new levy will apply to premiums received by an insurer on or after 1 June 2009.
Non-Life Insurance Policies – Change in Rate of Tax
The current non-life insurance levy of 2% is being increased by 1%. The new rate of 3% will apply to renewals and offers of insurance issued by an insurer on and from midnight on 7 April 2009 where premiums are received by the insurer on or after 1 June 2009.
CAPITAL GAINS TAX
The capital gains tax rate is being increased from 22% to 25% in respect of disposals made from midnight on 7 April 2009.
CAPITAL ACQUISITIONS TAX
Rate
The capital acquisitions tax rate is being increased from 22% to 25% in respect of gifts or inheritances made from midnight on 7 April 2009.
Threshold
The current thresholds of €542,544 (Group A: parents to child), €54,254 (Group B: between related persons), and €27,127 (Group C: between non-related persons) are being reduced by 20% to €434,000, €43,400 and €21,700 respectively.
This reduction applies in respect of gifts or inheritances taken from midnight on 7 April 2009.
CAPITAL GAINS TAX, INCOME TAX AND CORPORATION TAX
Income and losses from dealing in residential development land
- The special 20% rate applied to the trading profits from dealing in or developing residential development land is being abolished. The income will be charged at the person's relevant marginal rates of income tax or the 25% rate of corporation tax.
This change will apply as regards Income Tax for the year of assessment 2009 and subsequent years and as regards Corporation Tax for accounting periods ending on or after 1 January 2009 (with accounting periods straddling that date being deemed for this purpose to be separate accounting periods). - Where trading losses have been incurred from dealing in or developing residential development land in circumstances where, if trading profits had been made, they would have been eligible to be taxed at 20%, and a claim to use those losses has not been made to and received by the Revenue Commissioners before 7 April 2009, the losses from today will generally only be relievable (on a value basis) up to a maximum of 20%. Where any such loss is a terminal loss, the restriction will be implemented by “ring-fencing” the loss.
Full details of both changes will be contained in the Finance Bill.
CAPITAL ALLOWANCES
A scheme of tax relief for the acquisition of intangible assets, including Intellectual Property is being introduced as a means of supporting the Smart Economy.
The details of the scheme are being worked on, and will be published in the Finance Bill. It is anticipated that this measure will help to attract high quality employment to this economy.
Property-related accelerated capital allowance schemes in the Health Sector are being terminated. This scheme covers private hospitals, registered nursing homes, convalescent homes and associated residential units as well as mental health centres. Transitional arrangements will be put in place for projects that are at an advanced stage of development. The Finance Bill will contain further details on this measure. It should be noted that schemes for palliative care units and childcare facilities will remain in place.
EXCISES
- Auto-diesel will be increased by 5 cent per litre with effect from midnight on 7 April 2009.
- A packet of 20 cigarettes will be increased by 25 cent from midnight on 7 April 2009.
VAT
Introduction of VAT Margin Scheme for Second-hand Cars
A Margin Scheme is being introduced with effect from 1 July 2009 whereby dealers will be taxed on their margin in regard to second-hand cars they acquire and resell after that date.
Second-hand cars acquired before 1 July 2009 and resold after that date will be taxed on their resale price. However, where such a second-hand car is resold before 31 December 2009 the payment of the VAT due on the resale price of the car may be spread in equal amounts over the following three VAT periods. It is not possible to write off the VAT input credit dealers have already received when they purchased the second-hand cars.
The precise details will be contained in the Finance Bill.
CONCLUSION
There is only one conclusion that one can come to on this Budget: only time will tell whether the Minister will meet the challenge to spread the tax burden in a fair manner to a wider range of income earners while avoiding economic disincentive effects.
More to Come?
In addition to the measures introduced today, the Minister announced that further options are being considered for the 2010 Budget to raise the necessary tax revenues: measures may include
- the taxation of Child Benefit,
- the introduction of a Carbon Tax,
- a form of property tax and
- significant further base broadening through the elimination of unnecessary reliefs and a review of all areas of tax exempt incomes.
In addition, the Commission on Taxation is examining various aspects of pension tax treatment including the treatment of lump sums. The Minister advised the Dail that he expected to be dealing with their recommendations in the 2010 Budget next December. The Commission on Taxation is also considering the eventual abolition of mortgage interest relief.
G. Budget 09 – Links
If you wish to review the source documentation from the Department of Finance, or Guidance on the changes from the Revenue Commissioner, see below for the links.
Department of Finance website – dedicated Budget section: Click http://budget.gov.ie/default.html.
Revenue Commissioners – dedicated Budget section: Click http://www.revenue.ie/en/press/budget/2009/supplementary/index.html.
