Financial Resolution No. 6 increases the rate of tax on gifts and inheritance, taken on or after 8 April 2009, from 22% to 25%. It is estimated that the additional yield from the budget proposal will be in the order of €15 million in 2009 and the full year yield is expected to be in the region of €18 million. The impact of the rate increase must be considered in tandem with the proposed 20% decrease in the three tax thresholds. In overall terms, the estimated yield from the rate increase and the threshold reduction is €31 million in 2009 and €42 million in a full year.

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