According to a report in the Irish Examiner, the Irish Congress of Trade Unions (ICTU) is calling on the government to increase the rate of corporation tax on certain businesses, arguing that the country’s 12.5% rate is unsustainable.
In ICTU’s pre-budget statement, presented to the Department of Finance on Wednesday, general secretary David Begg argued that there is no justifiable reason why corporation tax should still be levied on banks, restaurants, hotels and retailers at such a relatively low rate.
The Examiner also reported ICTU’s call for the introduction of a ‘windfall tax’ on developers’ profits that have come about as a result of the re-zoning of land for development. The body would also like to see personal tax credits and tax bands indexed so that the real value of wages keeps in line with inflation.
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