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• The Finance Bill ends Cinderella rule for tax exiles

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  Helena Deane    Group moderator

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  The Finance Bill ends Cinderella rule for tax exiles

  (BizWorld)
  
  An end to the so-called "Cinderella rule" for wealthy tax exiles is provided for in the Finance Bill just published.
  
  Under the rule, people domiciled abroad can fly in and out of the country in one day, without this being counted as a day's stay for tax purposes.
  The Bill provides all visits to Ireland will now be counted against their permitted days in the country. Finance minister Brian Lenihan said last night that it was difficult to assess how many of the country's 'super rich' exiles would be affected.
  
  
  However, he said he wanted to achieve fairness in the matter.
  
  The Bill also provides details of how the proposed 200 euro workplace parking levy will work.
  
  The levy will apply in Dublin, Cork, Limerick, Galway and Waterford cities, though the minister will be able to exempt parts of each if he wishes.
  
  It will be charged from January on more than 50,000 car parking spaces in the private and public sectors.
  
  Employers will have to collect the fee through payroll deductions.
  
  However, drivers with disabilities will be exempt, there will be a reduced levy for employees who share a parking space, and there will be concessions for part-time and shift workers.
  
  The Bill also provides for an NCT assessment of cars being imported from Britain and Northern Ireland before they are registered here.
  
  The Department of Finance says this is to make sure that the cars are correctly registered, in order to cut the number of vehicles fitted with extras that are not being declared.
  
  Mr Lenihan says it will also to reduce the number of cars being imported to the detriment of the motor industry here.
  
  The proposed 10 euro airport departure tax will be varied, with a lower 2 euro rate for shorter air journeys now applying to flights on all routes within 300km of Dublin, no matter what the airport of departure is.
  
  This is to avoid the full rate being charged on routes from provincial airports to destinations that would attract a reduced rate from Dublin.
  
  For details of othert measures in the Bill see earlier story.
  
  • 21 Nov 2008, 2:57 pm
  Helena Deane wrote: > (BizWorld) > > An end to the so-called "Cinderella rule" for wealthy tax exiles is > provided for in the Finance Bill just published. > > Under the rule, people domiciled abroad can fly in and out of the > country in one day, without this being counted as a day's stay for > tax purposes. > The Bill provides all visits to Ireland will now be counted against > their permitted days in the country. Finance minister Brian Lenihan > said last night that it was difficult to assess how many of the > country's 'super rich' exiles would be affected. > > > However, he said he wanted to achieve fairness in the matter. > > The Bill also provides details of how the proposed 200 euro workplace > parking levy will work. > > The levy will apply in Dublin, Cork, Limerick, Galway and Waterford > cities, though the minister will be able to exempt parts of each if > he wishes. > > It will be charged from January on more than 50,000 car parking > spaces in the private and public sectors. > > Employers will have to collect the fee through payroll deductions. > > However, drivers with disabilities will be exempt, there will be a > reduced levy for employees who share a parking space, and there will > be concessions for part-time and shift workers. > > The Bill also provides for an NCT assessment of cars being imported > from Britain and Northern Ireland before they are registered here. > > The Department of Finance says this is to make sure that the cars are > correctly registered, in order to cut the number of vehicles fitted > with extras that are not being declared. > > Mr Lenihan says it will also to reduce the number of cars being > imported to the detriment of the motor industry here. > > The proposed 10 euro airport departure tax will be varied, with a > lower 2 euro rate for shorter air journeys now applying to flights on > all routes within 300km of Dublin, no matter what the airport of > departure is. > > This is to avoid the full rate being charged on routes from > provincial airports to destinations that would attract a reduced rate > from Dublin. > > For details of othert measures in the Bill see earlier story.