National Budget Flashcards
Corporation tax
A tax paid by companies on their profit.
Value added tax
A tax included in the price of goods and services.
Deposit interest retention tax
A tax on the interest earned by the people on the savings
Custom duties
A tax on goods coming in to Ireland from certain other countries
Excise duties
A tax on cigarettes, alcohol and petrol
Travel tax
A tax paid by people when they leave the country on business or on holiday.
EU grant
money given to Ireland from the European Union
Sale of semi-state bodies
Income from the sale of state-sponsored body
Dividends from state-sponsored bodies
This is the government’s share of the profits made by the states sponsored bodies.
The national budget
The national budget is a document that gives a detailed breakdown of government income and expenditure for the next year.
Income tax
A tax paid by employees on their income
State-sponsored body
A state-sponsored body is the name given in Ireland to a business that is owned by the irish state.
Balanced budget
When planned total income is equal to planned total expenditure
Surplus budget
When our planned total income is equal to our planned total expenditure
Budget deficit
When our planned total income is equal to our planned total expenditure.
