Taxation

• Taxation is a required payment set by the governement and paid by employees, consumers, households and businesses
• Tax revenue helps the governement run the country
• Tax is collected By Revenue Commissioner
• Direct/Progressive tax is any tax that is based on income.
• Indirect/Regressive taxation is any tax on goods and services bought
• Pay As You Earn (PAYE) is a direct tax paid on all types of income/earnings: salary, wages, overtime, commission, tips, bonuses, pension contributions, benefits, etc. It is deducted at source. The more you earn the more you pay.