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Taxation - Coggle Diagram
Taxation
taxes paid by both households & businesses
Motor Tax
Value added tax (VAT)
Capital Gains Tax (CGT)
Customs duty
Excise duty
Carbon Tax
Pay related social insurance (PRSI)
Taxes made by households only
Self-assessment income tax
PAYE
Local property tax{lpt}
Capital acquisitions {cat}
The PAYE system
Commencing Employment
During Employment
Ending employment
taxes paid by business only
corpation tax
tax on a firms profits
12.5% in ireland
irelands low corporporation rax attracts FDI
commercial rates
levied by local authority on a firms property and used to finance local government services
amount paid based on value of property
eg. a large supermarket in city centre pays higher commercial rate than a small shop on the outskirts of town
progressive tax are taxes that impose higher rates for those on higher incomes e.g PRSI and PAYE income tax