Front Matter Page
IMF Country Report No. 19/165
IRELAND
IRELAND—SELECTED ISSUES
June 2019
This paper on Ireland was prepared by a staff team of the International Monetary Fund [as background documentation for the periodic consultation with the member country]. It is based on the information available at the time it was completed on May 30, 2019
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Front Matter Page
IRELAND
SELECTED ISSUES
May 30, 2019
Approved By
European Department
Prepared by Jirà Podpiera and Anna Shabunina with research assistance from Morgan Maneely and Anvar Musayev.
Contents
PERSONAL INCOME TAX REFORM: PAST AND PRESENT
A. Introduction
B. The Income Tax
C. The Universal Social Charge
D. Replacing the USC with a Re-calibrated Income Tax
E. A More Substantial Reform Could Yield Additional Benefits
F. Conclusions
References
FIGURES
1. Personal Income Taxes
2. Income Taxes
3. Personal Income Taxes
4. Income Tax Thresholds
5. Income Tax Credits
6. USC Effective Rates
7. The Role of USC
8. Effective Rates Comparison
9. Re-calibrated Income Tax
10. Marginal Effective Tax Rates
11. Effective Tax Rates
ANNEX
1. Personal Income Tax Changes
NON-BANK FINANCIAL SECTOR IN IRELAND: LINKAGES AND RISKS
A. Introduction
B. Description of the Funds and Vehicles Sector
C. Linkages with the Domestic Economy
D. Global Linkages
E. Assessing the Resilience of the Funds and Vehicles Sector
F. Conclusion
References
FIGURES
1. Ireland’s Financial Sector Assets
2. Composition of the Irish Non-bank Financial Sector
3. Financial Linkages with Irish Households
4. Value Added of the Financial Sector in Ireland
5. Financial Sector and BOP
6. Global Linkages
7. Probability of Distress
8. Liquidity and Maturity Mismatch in Irish Funds
9. Leverage in Irish Funds
TABLE
1. Network Matrix (Gross Bilateral Positions)