PLAN FOR ARAN ISLANDS TO BECOME TAX FREE

Date Published: 06-Jul-2008

The Aran Islands and Inisbofin could become tax-free havens under new proposals put forward to the Commission on Taxation by Údarás na Gaeltachta.

The tax-incentive scheme would make the islands tax-free, promoting economic activity on them and attracting more people to live there.

According to the Sunday Independent newspaper, one part of the proposal would mean that people living on the islands for at least 6 months of the year, would be able to earn 100 thousand euro a year, tax free, for 10 years.

This is even if they earn their income on the mainland.

CEO of Údarás na Gaeltachta, Pádraig Ó hAoláin, says the plans are key “to the future viability of the island communites.”