Taxback.com conducted an Irish customer survey, asking 800 taxpayers throughout the country for their views on the possible implementation of a wealth tax in the country. The survey found that almost 9 in every 10 people would welcome a wealth tax to raise funds for the Irish Exchequer. 
 
Irish statistics have shown that wealth is ‘highly concentrated’ in this country – with 72.2% of net wealth held by the top 20% of the population. This is above average in Europe (67.6%). Research has also shown that the top 10% have more than half of all the net wealth in Ireland (53.8%).
 
Taxback asked their customers: Would you agree with the implementation of a wealth tax? The results were as follows:

Yes                                   33%
No                                    13%
Yes on people with incomes >  100k    24%
Yes on people with incomes >  €250k   20%
Yes on people with incomes >  500k     6%
Yes on people with assets  >  1mn      4%
 
Commenting on the research, Senior Tax Manager with Taxback.com, Barry Flanagan said, "With Budget 2018 looming we are all poised for the Oct 10th announcement to see whether or not we will be better off after the Minister’s speech. Introducing a wealth tax has been mooted for years – with certain political entities loudly voicing their support, while other contributors have suggested it could actually have negative repercussions on Ireland’s ability to attract FDI and talent."

He added, "However, there can be no denying the general consensus amongst the taxpayers we surveyed – with 87% in favour of the tax – differing only in the threshold amounts they believe at which it should be introduced."

Source: www.businessworld.ie