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´╗┐AT will not change for the next two years, but the standard rate will rise from 21% to 22% in 2013 and to 23% in 2014. The Government also plans to raise 110m from excise duties next year. Adidas Stan Smith Junior White

There will be a similar system for capital acquisitions tax. However, in his reply to Mr McGrath, Minister Noonan said the figure would be is understood the pensions industry had provided the Department of Finance with data that showed the yield from the introduction of the limit would by higher. But when officials from the Department analysed the proposals they found the tax revenue it would deliver would be much lower. At the Dublin Economic Workshop in Limerick last Friday, Minister Noonan said: "I fulfilled my side of the bargain and the industry who gave very detailed figures did not fulfil its side of the bargain so when they come back to me and deliver I will take away the (pensions) levy. Stan Smith Vulc Shoes Blue "In Budget 2014 last week, Minister Noonan said the pensions levy would increase to 0. 75% next year, before falling to 0. 15% in 2015.

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It will affect 1. 8 million households. The current system of capital gains tax will be changed in 2012 from the current 25% to a system of differing rates for different levels of gains.

On property, a site valuation tax will be brought in in 2012, aimed at funding local services. It will initially be around 100 a year, with the final rate decided on in 2013 when valuations of property have been completed. This will apply to all land other than agricultural land and land subject to commercial rates. Stan Smith Xeno Shoes

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It had been expected that there would be no pensions levy in 2015. Michael McGrath said the Minister could have achieved the savings by targetting relief on "high value pensions". "Minister Noonan is now extending the levy on all Adidas Stan Smith Suede White

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people paying into pensions. That will put largest burden on those with modest pensions," he said. It is understood the levy is also going to fund the continuing VAT reduction for the tourism industry. Jerry Moriarty, chief executive of the Irish Association of Pension Funds,.

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