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Financial Resolutions 2013

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Budget Statement 2013

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Snippet Contents:

The rates of both VRT and motor tax across all categories will increase with effect from 1 January 2013. In order to incentivise a more year round motor market, I have decided to introduce a dual registration period. Therefore, in 2013 and subsequent years, vehicles registered from 1 January in 2013, for example, will carry a year tag of 131 and those registered in the second half of the year will carry a year tag of 132. In subsequent years, the same principle will apply.
I am extending carbon tax to solid fuels on a phased basis over two years commencing after this winter period. A rate of €10 per tonne will apply with effect from 1 May 2013 and this rate will increase to €20 per tonne on 1 May 2014.
The extension of carbon tax to solid fuels brings their tax treatment into line with the treatment of other fuels.
Philanthropy
Earlier this year, I launched a public consultation on certain proposed amendments to the tax relief available for donations to charities and other approved bodies. Based on this consultation, I have decided that donations made from the 2013 tax year will be subject to a new, simplified tax relief regime. The new rate will be a blended rate of 31%, which will apply to all donations.
I have, since taking office, received proposals that suggest there may be a significant number of philanthropists worldwide, many of them Irish citizens or with Irish family backgrounds, who would be interested in making significant donations to initiatives that would aid Ireland's economic recovery if our tax system were changed to ensure suitable recognition of such donations. I have decided to ask the Oireachtas Joint Committee on Finance, Public Expenditure and Reform to examine these proposals and revert to me with its recommendations.
Capital Taxes
A key element of this budget has been to ensure fairness. In that context, I am introducing a number of measures in the area of capital taxes to ensure that people with wealth make a fair contribution to the State. These include decreasing the threshold at which capital acquisitions tax applies by 10%, increasing DIRT from 30% to 33% and increasing the rates of capital acquisitions tax and capital gains tax by 3% to 33%, all changes to take place from midnight tonight.
Corporation Tax
Our recovery plan has been and remains export-led growth. I have already set out measures by which we will extend the recovery to the SME sector.
Retaining Ireland's competitiveness for mobile foreign investment remains a central plank of this Government's export-led recovery strategy for Ireland. The Government remains 100% committed to maintaining the 12.5% corporation tax rate-----