Inflation, Cost of Living, and Taxation
Inflation, Cost of Living, and Taxation
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Date
2022-11
Authors
Wellington Leandro de Souza
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Abstract
The cost of living, finances, and taxation are the subjects that I specialize in studying for this
project. It was my intention to look into the PAYE system that is used in Ireland, how it is
administered for employees, and how it can lessen the impact of the currently high cost of
living.
I plan to do an in-depth study of the PAYE income tax system in Ireland, determine whether
or not people understand how it operates, evaluate the risks associated with the system, and
explain how PAYE works in Ireland in addition to its fairness and feasibility. This is a topic
that has piqued my interest because many employees from other countries who come to Ireland
in search of employment report having issues navigating the PAYE system, and occasionally
even Irish people themselves are confused by its operation.
The system's original design was created in 1960 and was updated in 2019. One of the goals of
this modification was to make the risk analysis and reporting system "real-time," as well as to
update the system in order to implement COVID assistance programs such as the Temporary
Wage Subsidy Scheme (TWSS) and the Employment Wage Subsidy Scheme (EWSS). Given
the ongoing epidemic, this research will make use of previously acquired knowledge about the
PAYE system and its benefits in terms of those assistance programs as well.
In spite of the seeming limitations of the subject matter, having a more comprehensive
understanding of the PAYE system can have far-reaching impacts. The strengths, weaknesses,
opportunities, and threats analysis will try to determine how significant these effects are and
will offer additional recommendations for operational support, understanding and explaining
better the characteristics of the system and use the many subheadings to comment on particular
aspects of how PAYE works in Ireland.
In the most recent few months, the cost of living in Ireland has skyrocketed, which can be
attributed to a variety of external factors, one of which is the country's exceptionally high
inflation rate. In addition, the cost of living in Ireland can be attributed to a variety of external
factors, including a variety of economic factors.
I would like to concentrate on explaining how the system works, describing how payroll works
and how it applies to PAYE workers, giving the lecturer the impression that I did extensive
research on the topic, and giving the audience a brief overview of how to use the Revenue
PAYE system. This explanation will be based on the introduction.
This study was conducted with the goal of learning about the effects of the PAYE system on
revenue, the effects of the PAYE system on the current cost of living in Ireland, and the ways
in which the PAYE system can assist individuals in surviving difficult times.
Using marketing tools to conduct surveys of people to gain a better understanding of the
system's benefits and drawbacks, as well as to determine whether or not Irish and non-Irish
people living here are aware of the system's significance and how it works. The survey's goal
is to gain a better understanding of the system's benefits and drawbacks, and the results will be
explored in this project in order to compare them to the literature about specialist authors on
the topic.
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Leandro de Souza, 2022