Interesting Facts

The Adam Smith Institute in the UK calculated Tax Freedom Day in Ireland as May 7 2005. Tax Freedom Day is the day that a resident of country has paid his taxes for the year and from which date he or she is working for themselves and not for the government. Tax Freedom Day compares a nation’s total income against its total tax take, and then translates that into a specific day of the year. Residents of the Euro zone, on average, will have to work until 28 June before they have paid all their taxes. US workers, by contrast, have benefited from President Bush’s vigorous tax cutting. They finished paying taxes nearly two months ago, on 11 April – the earliest date in 37 years.

Of the EU countries, Ireland seems the best placed. On the tax front at least, both Greece (1 June) and Spain (4 June) are also below the average. But there may be problems ahead for Italy (24 June), Austria and France (both 5 July), all above the average, and Denmark (24 July), which is well above
Above four docs relate to: Human Capital - Publications - Department of Social and Family Affairs Press Releases 2005