"Micheál Martin believes the current rules mean some people are "unduly penalised" and the existing tax thresholds "don't reflect the modern reality for many families today.""
"The State took in a record €1.121 billion from inheritance and gift tax revenue last year, highlighting the significant impact of these taxes on families."
The Taoiseach is calling for reforms to the inheritance tax system, citing that current rules unfairly penalize certain individuals. Recent figures indicate that the State collected a record €1.121 billion from inheritance and gift taxes last year. A spokesman for Micheál Martin emphasized that the existing tax thresholds do not align with the modern realities faced by many families, suggesting a need for change to better reflect current circumstances.
Read at Independent
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