Figures showing that 48 of the highest earners in the State pay less than 5 per cent tax are a shocking indictment of Fianna Fáil's record on taxation, according to Labour.
According to the Revenue Commissioners, three top earners paid no tax at all in 2003, down from six the previous year. The number paying less than 5 per cent grew over the same period from 43 to 48.
The number of top earners paying less than 20 per cent was 104 in 2003, up from 95 the year before, the Revenue's analysis of the State's top 400 earners also shows. The number of wealthy individuals paying low rates of taxation has remained high in spite of the introduction of restrictions on property tax reliefs introduced from 1998 on.
Labour's Joan Burton said it was time the Government took steps to ensure that top earners paid their fair share of taxes to pay for public services.
"Fianna Fáil has presided over a tax regime that has allowed super earners to use a range of tax loopholes and avoidance measures to minimise their tax liabilities - and some millionaires to avoid tax liability altogether - while workers earning at or just over the average industrial wage have had to endure tax rates of 40 per cent and more," she said.
While Minister for Finance, Brian Cowen, has promised to phase out some of the most notorious property-based tax shelters, super-wealthy individuals would continue to benefit from these from many years to come, she predicted.
"In addition, as soon as one loophole is closed, these individuals use the army of tax advisers and lawyers that are available to them to find other ways of avoiding paying their fair share of the taxation burden," Ms Burton added.
