Crown Revenue Prior to the 17th century, the King enjoyed hereditary revenues payable by custom. This included crown rents, various duties etc. After the restoration of Charles II, the Crown’s feudal dues were terminated and the position of the Crown relative to Parliament was greatly diminished. They were largely replaced by other levies. When the hereditary revenues exceeded expenses, the sovereign did not have to […]
Independence Pursuant to the Treaty signed the 6th day of December 1921 a process started by which the Irish Free State was to be established, ultimately a year later. A Provisional Government was established. The Government of Ireland Act 1920 had been passed in the United Kingdom and become law in Northern Ireland. It had contemplated an equivalent devolved government in the 26 counties to […]
Enquiry & Commission on Income Tax A Committee of Enquiry into the taxation of industry was established in 1953. It was to examine in particular the extent to which income tax might be a deterrent to the maintenance modernisation or extension of productive capacity and make recommendations. The Committee reported in 1956. A Commission on Income Tax was established in 1957 once again under the […]
Customs Harmonisation Ireland joined the Customs Cooperation Council based in Brussels in 1952. The Council included a valuation committee and nomenclature committee with a view to uniformity in the application of customs rules. The Finance Act 1952 reflected the Conventions. After considerable work over the following decade, Ireland introduced a new customs tariff on 1 January 1963 following the Convention’s nomenclature. Over a dozen customs […]
Excise Taxes Excise taxes apply to a range of goods are manufactured or imported into the State in particular, beer, spirits, tobacco products, hydrocarbon oils, motor vehicles table waters and televisions (1980) In addition special excise applied to various licences and certificates including manufacture and sale of intoxicating liquor auctioneering gaming betting possession of firearms and numerous other activities. Special excise taxes applied to off […]
Turnover Tax In 1962 receipts from excise taxes on a narrow range of goods in particular tobacco, beers, spirits and hydrocarbon oils constituted 40% of government revenue. The Finance Act 1963 introduced a turnover tax. It applied to all retail sales of goods and provision of services in the course of business. It also applied to supplies by clubs, gaming betting and entertainment. Goods imported […]
Early Twentieth Century A range of taxes on land were commenced in the famous 1910 budget. Many of them were repealed in 1920. They included incremental value duty, undeveloped land duty reversion duty and mineral rights duty. Incremental value duty was to represent on the increase of the site value after 1909 payable when land was transferred on sale or death. Reversion duty was a […]
Consolidation & Reform Until 1967 the income tax legislation was the Income Tax Act 1918 (UK statute) as amended annually. An Income Tax consolidation bill was introduced and became the income Tax Act 1967. The Income Tax Act 1967 consolidated the law and continued to divide income into categories which is reflected in the current legislation trade and professions investment income employment income rental income […]