MANAGEMENT

BUISENESS MANAGEMENT

TAXES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What tax must be paid for your house each year?
A
PAYE
B
Car Tax
C
Corporation Tax
D
Local Property Tax
Explanation: 

Detailed explanation-1: -The liability date for Local Property Tax (LPT) is 1 November each year. This means that your property is liable for LPT for 2023 if it is a residential property on 1 November 2022. You need to pay the LPT charge for 2023 if you are the liable person for LPT on 1 November 2022.

Detailed explanation-2: -LPT is a self-assessed tax charged on the market value of residential properties in the State.

Detailed explanation-3: -You can pay your LPT in regular payments that are spread throughout the year. You can pay the instalments by: Monthly direct debit. Monthly or weekly cash payments through an approved Payment Service Provider.

Detailed explanation-4: -Local Property Tax allocations paid from the Local Government Fund help fund essential local services such as, public parks; libraries; open spaces and leisure amenities; planning and development; fire and emergency services; maintenance and cleaning of streets and street lighting – all benefitting citizens directly.

There is 1 question to complete.