Budget 2012

20 December 2011

Budget 2012 was announced by the Finance Minister on 6th December 2011 and included changes to the following:

•    No change in income tax rates, bands or tax credits.

•    Increase in the threshold for the Universal Social Charge has been increased to €10,036.

•    Removal of Employer PRSI relief on pension contributions.

•    PRSI will be expanded to cover rental, investment and other forms of income from 2013.

•    The standard rate of VAT will be increased from 21% to 23% from 1 January 2012.

•    DIRT will be increased from 27% to 30% for payments made annually or more frequently 
      and for payments made less frequently than annually DIRT will be increased from 30% to 33%.

•    Increase in Capital Gains Tax and Capital Acquisitions Tax to 30%.

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