‚€100 million potential for Irish charities
Howard Lake | 17 October 2006 | News
The Irish government is looking at a proposal that would allow credit card holders to redirect ‚€100 million in credit card tax to charitable causes. The proposal has been backed by over 100 charities and, crucially, some banks.
Irish consumers currently pay ‚€40 stamp duty on their credit cards and the proposal would see people redirecting it to charities and sports organisations. The tax is collected annually so in theory the ‚€100 million would be a yearly total.
The campaign is being led by a former KPMG accountant, David Burke. The Department of Finance, while voicing concern about setting a precedent, has expressed ‘interest in the proposal’, which are usually code words for support or at least neutrality.
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The ultimate decision will be made by the Minister for Finance as to whether the proposal will be in the forthcoming budget but it comes at a time when Ireland’s finances are in very good shape. The banks are thought to be in favour because they dislike the tax as much as the consumer.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.