AT A GLANCE

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

An in­crease of €750 in the in­come tax stan­dard rate band for all earn­ers — from €33,800 to €34,550 for sin­gle in­di­vid­u­als and from €42,800 to €43,550 for mar­ried one-earner cou­ples. Earned in­come tax credit to in­crease to €1,150. Weekly pen­sion to in­crease by €5. Re­lief to be chopped by 25pc in 2018 — and to be phased out by 2021. In­crease in VAT rate from 13.5pc to 23pc will make sunbed ses­sions more ex­pen­sive. A 0pc ben­e­fit-in-kind rate is be­ing in­tro­duced for elec­tric ve­hi­cles for a pe­riod of one year. Elec­tric­ity used in the work­place for charg­ing ve­hi­cles will also be ex­empt from ben­e­fit in kind. A tax on sugar sweet­ened drinks (with 5 or more grams of sugar per 100ml) is to be in­tro­duced in April 2018. Tax credit to in­crease to €1,200. The 2.5pc rate is re­duced to 2pc while the 5pc rate is cut to 4.75pc. There is also a €600 in­crease to the €18,772 band ceil­ing, mean­ing that the new 4.75pc rate ap­plies to in­come of be­tween €12,012 and €19,372. To fall to 37pc.

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