asked the Minister for Finance the manner in which conversion rates are used; how often they are adjusted in order to ascertain the appropriate rate of health and employment levies on persons with a sterling income or pension; and if he will make a statement on the matter.
Written Answers. - Conversion Rates.
77.
Liability for the health contribution and the youth employment levy in respect of the income described in the question is generally based on such income as arises in the previous tax year. I am informed by the Revenue Commissioners that, for the purposes of establishing liability for the health contribution and youth employment levy, save where the taxpayer provides details of the actual Irish income received by him on conversion, the income is converted into Irish punts at the average rate of exchange for the income tax year in which the income arises.