Sunday , May 22 2022

Tax on carbon is increasing to be part of the future tax plan, says Varadkar



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The amount of carbon tax will be a significant part of the tax plan that will include changes beyond the promised promise that it will increase the tax threshold to 50,000 euros over the next five years, said Taoiseach Leo Varadkar.

Mr. Varadkar said that the accelerated income tax that he announced at Fine Gael Ardfheis Weekend will not be the only tax measures his party would advocate in the next general election.

He said Fine Gael would increase the threshold at which people favor a higher income tax of 40 percent to 50,000 euros for one person over the next five years.

As a result of the changes announced in the budget last month, the 40 percent rate will be charged from revenues above € 35,300 from next year.

The Finance Department estimates that Mr Varadkar's plan will cost 3 billion euros over five years and has already allowed the income tax package to cost about 600 million euros a year during that period.

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