Eu / Imf Order Irish Property Tax

[interestrateripoff]

http://www.independent.ie/national-news/property-tax-on-way-within-year-2603975.html

THE Government has been ordered by the EU/IMF to impose a property tax on all homeowners within a year.

The controversial annual tax is expected to be announced in December's Budget -- even though it was not in the Programme for Government.

The imposition of the tax and the precise timeline for its roll-out are key requirements for Ireland to avail of the EU/IMF €85bn bailout package.

And the Department of the Environment confirmed that the tax will rise within a year of being introduced.

Details of how and when the so-called 'site-valuation tax' will be introduced and increased are in a briefing note prepared by civil servants for Environment Minister Phil Hogan. The document has been obtained by the Irish Independent.

Under the heading "EU/IMF requirements", the document states that Ireland must "adopt a property tax by end Q4 (quarter 4) 2011", adding that this tax must then be increased by the end of 2012.

Couldn't see this posted anywhere.

Still at least the Irish are taking all of this in their stride, if this was in the middle east there would be riots. In the west people like being shafted especially when it's to bailout the bankers.

[interestrateripoff]

http://market-ticker.org/akcs-www?post=183436

EU/IMF Declares War On Ireland

Yes, I meant it:

THE Government has been ordered by the EU/IMF to impose a property tax on all homeowners within a year.

To the Irish: How do you respond when someone declares war on you?

You've had war declared upon you. The only determination left is whether that war is an invasion of your sovereign land by a foreign power or whether your own government has declared war on you as a consequence of bribery and extortion by a foreign power.

Either way, it's war. You are a sovereign people and a sovereign nation.

You have an inalienable right of self-defense.

You now must either exercise that right or lose it forever.

Dennigers view on it.

[billybong]

When the Irish accepted the loans the eu/imf/irish government knew "gotcha" on the Irish.

Edited April 2, 2011 by billybong

[shell]

Still at least the Irish are taking all of this in their stride, if this was in the middle east there would be riots. In the west people like being shafted especially when it's to bailout the bankers.

The media coverage of the Irish people's reaction to the crisis makes me think of media coverage of Japan. Because Japan and Ireland are 'civilized' i.e. not Haiti or Middle East, everyone assumes the Irish and Japanese have responded with brave, calm, orderly stoicism. But delve deeper and you'll find reports of rape, robbery and looting in the devastated areas of Japan, and well, let's keep an eye out for the IRA shall we . . . There may be troubles ahead.

[Gigantic Purple Slug]

Probably just an EU ploy to get them to alter the biggie (corp tax).

[corevalue]

Will this tax apply to empty houses? Are the developers going to take a haircut?

[workhou]

The media coverage of the Irish people's reaction to the crisis makes me think of media coverage of Japan. Because Japan and Ireland are 'civilized' i.e. not Haiti or Middle East, everyone assumes the Irish and Japanese have responded with brave, calm, orderly stoicism. But delve deeper and you'll find reports of rape, robbery and looting in the devastated areas of Japan, and well, let's keep an eye out for the IRA shall we . . . There may be troubles ahead.

'Face' is a big thing in countries like Japan. I lived in Korea for three years and initially thought great, there are no crimes here! When I got to know the country better I was shocked at the crimes which went unreported! The fact being that the media simply does not report crime in these countries because it leads to a loss of 'face'. The crime levels obviously are much lower than the west, however it would be naive to assume no crimes take place.

The IRA have already said on the news that they intend to target bankers!! Let the good times roll..

[frankief]

Will this tax apply to empty houses? Are the developers going to take a haircut?

No, the fire brigade will have plenty of work this summer.

UK |nsurance companies will pick up the bill.

[ken_ichikawa]

As previously said why would you want to own an easily taxed, hard to dispose of non fungible asset?

Heh a few of my friends move around very frequently, they have managed to avoid paying council tax for quite some time!

[R K]

It's not entirely clear to me how this Irish govt. is different to the previous one.

They haven't given the bondholders haircuts

They've bent over and taken it from the German Finance Ministry

BUT, whilst it may be the EU insisting on a property tax rather than the Irish govt (Denninger's a big girl's blouse - they can refuse to accept the bailout money if they so wish) this is surely a GOOD thing. Provided it is a tax on the property/land of those who have benefitted from the cash flowing out of the collapsed banks, and not on everybody.

I'd go much further and sequestrate all assets transferred prior to the banks' collapse too as might happen in an illegal transfer of assets in any other bankruptcy.

The money from all this lending went somewhere - either to land owners selling land to developers, or purchasing property in Ireland or abroad, or yachts, or Swiss bank accounts etc. It didn't all go in brickies wages spent down the local boozer.

[Injin]

It's not entirely clear to me how this Irish govt. is different to the previous one.

They haven't given the bondholders haircuts

They've bent over and taken it from the German Finance Ministry

BUT, whilst it may be the EU insisting on a property tax rather than the Irish govt (Denninger's a big girl's blouse - they can refuse to accept the bailout money if they so wish) this is surely a GOOD thing. Provided it is a tax on the property/land of those who have benefitted from the cash flowing out of the collapsed banks, and not on everybody.

I'd go much further and sequestrate all assets transferred prior to the banks' collapse too as might happen in an illegal transfer of assets in any other bankruptcy.

The money from all this lending went somewhere - either to land owners selling land to developers, or purchasing property in Ireland or abroad, or yachts, or Swiss bank accounts etc. It didn't all go in brickies wages spent down the local boozer.

yeah, cos property owners aren't just going to pass those taxes onto the dispossesed and the renting or anything.

[R K]

yeah, cos property owners aren't just going to pass those taxes onto the dispossesed and the renting or anything.

Which is why I said excluding the lower end, including other assets, and would seize assets transferred via the fraudulent proceeds of loans via their bust banks.

Most people won't be renting stud farms, yachts in Monte Carlo or Bentleys from these people.

But if you'd rather the poor paid then I'm disappointed in you Injin.

[ralphmalph]

It's not entirely clear to me how this Irish govt. is different to the previous one.

They haven't given the bondholders haircuts

They've bent over and taken it from the German Finance Ministry

BUT, whilst it may be the EU insisting on a property tax rather than the Irish govt (Denninger's a big girl's blouse - they can refuse to accept the bailout money if they so wish) this is surely a GOOD thing. Provided it is a tax on the property/land of those who have benefitted from the cash flowing out of the collapsed banks, and not on everybody.

I'd go much further and sequestrate all assets transferred prior to the banks' collapse too as might happen in an illegal transfer of assets in any other bankruptcy.

The money from all this lending went somewhere - either to land owners selling land to developers, or purchasing property in Ireland or abroad, or yachts, or Swiss bank accounts etc. It didn't all go in brickies wages spent down the local boozer.

Ireland does not have a Govt, they have an administration. The Germans/IMF/EU tell them what to do and they administer it.

Hey, Declan, Brendan, Fergus there is nothing to worry about in this Lisbon Treaty, you will vote yes.

[Injin]

Which is why I said excluding the lower end, including other assets, and would seize assets transferred via the fraudulent proceeds of loans via their bust banks.

Most people won't be renting stud farms, yachts in Monte Carlo or Bentleys from these people.

But if you'd rather the poor paid then I'm disappointed in you Injin.

Of course I'd rther the poor paid.

In fact, ****** it, I'll pay -

123456789. Feel free to reorder these in any fashion you like until the debt is paid.

[Democorruptcy]

The money from all this lending went somewhere - either to land owners selling land to developers, or purchasing property in Ireland or abroad, or yachts, or Swiss bank accounts etc. It didn't all go in brickies wages spent down the local boozer.

It wasn't all lending was it? They bought a lot of crap from their "friends" in the USA. A lot of their money has gone over the pond.

Wall Street desired all the billions of upside from creating new markets for new products. Their creativity knew no bounds as they crafted MBOs, MBSs, CDOs, CDSs, and then chopped them into tranches, selling them around the world with AAA stamps of approval from the soulless whore rating agencies. When the net result of a flawed system of toxic garbage paper was revealed, there was no room at the exits for the stampede of investment bankers. The toxic paper was on the banks’ books and no one wanted to admit the greed induced decision to purchase these highly risky, volatile “assets”. The trade had not gone bad, the ponzi scheme had unraveled. Suspending FASB 157 has been an attempt to hide this fraudulent business model from investors, regulators and the public. By hiding the true value of these assets, the financial system has never cleared. The banks remain in a zombie vegetative state, with the Federal Reserve providing the IV and the life support system.

http://www.marketoracle.co.uk/Article27272.html

[Rare Bear]

Will this tax apply to empty houses? Are the developers going to take a haircut?

I think that they are pretty much bald already

[SHERWICK]

The wrong people are paying for all this. Irish taxpayers and for that matter, German and English taxpayers, whilst Mr Irish Property Developer, Mr Bonus Banker has ridden off into the sunset.

Yes, Mr Irish Property Developer. I was wondering when someone was going to mention him.

Individually, he made out a lot more than Mr Bonus Banker (who seems to get all the attention)

I hear a few of the Irish Property Developers are now hiding out in Switzerland...