Ireland is a major welfare state in Western Europe, attracting the attention of global investment immigrants. Recently, there has been more good news: the OECD officially published its periodical 'Taxing Wages 2017', which surveyed the tax rates of its 35 member countries, including taxation and social security conditions. The report found that Ireland is actually the OECD member country with the best personal income tax benefits.
The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental international economic organization composed of more than 30 market-economy countries. It aims to jointly address the economic, social, and governance challenges brought about by globalization and to seize the opportunities it presents.
The report found that between 2000 and 2016, personal income tax rates in various countries continued to decline, reducing the tax burden. For families, the tax rate decreased by 5 percentage points. For groups with an annual income of around €22,523, the tax wedge decreased by 11.7%, and for single parents at the same income level, it decreased by 18.1%.
Ireland's personal income tax is relatively low. According to the latest OECD report, in 2016, the tax wedge borne by single individuals in Ireland was only 27.1%, which is about 10 percentage points lower than the average for OECD member countries. In contrast, the tax wedge in Belgium reached 54%, in Germany 54%, in Hungary 48.2%, and in France 48.1%. Excluding employee social insurance, Ireland's other benefits are also very comprehensive.
At the same time, Ireland's child benefit means that the tax rate for some families is actually negative. Ireland's child welfare is very high, providing a subsidy of €140 per child per month. Coupled with the tax benefits already enjoyed by families, some families have a negative tax rate; in other words, they receive more than they pay.
As is well known, Ireland is a high-welfare country. Annual social welfare expenditure accounts for about one-quarter of government fiscal spending, and per capita expenditure has exceeded that of countries like the UK and France, ranking 11th in the world! Not every country allows you to invest, immigrate, and enjoy so many benefits simultaneously. Therefore, those who wish to immigrate to Ireland should seize the time. Now, every investor only needs to make a one-time investment of 1 million euros in a local Irish enterprise for more than three years, and can apply for naturalization after residing for a cumulative total of 5 years within 8 years. Most importantly, Irish investment carries low risk, with approval granted before investment, ensuring capital safety and guaranteed returns, while also allowing access to numerous generous benefits. For those interested in immigrating to Ireland, please call our hotline: 400-138-2929.