Noel Ahern
Question:106 Mr. N. Ahern asked the Minister for Finance if he will outline the changes and dates in income tax rates since 1985; and if he will make a statement on the matter. [18740/00]
Written Answers. - Income Tax Rates.
The information requested by the Deputy is set out as follows:
|
Tax Year |
Income Tax Rates |
|||
|
1985/86 |
35% |
48% |
60% |
|
|
1986/87 |
35% |
48% |
58% |
|
|
1987/88 |
35% |
48% |
58% |
|
|
1988/89 |
35% |
48% |
58% |
|
|
1989/90 |
32% |
48% |
56% |
|
|
1990/91 |
30% |
48% |
53% |
|
|
1991/92 |
29% |
48% |
52% |
|
|
1992/93 |
27% |
48% |
||
|
1993/94 |
27% |
48% |
||
|
1994/95 |
27% |
48% |
||
|
1995/96 |
27% |
48% |
||
|
1996/97 |
27% |
48% |
||
|
1997/98 |
26% |
48% |
||
|
1998/99 |
24% |
46% |
||
|
1999/00 |
24% |
46% |
||
|
2000/01 |
22% |
44% |
The data shows the very significant reduction in personal taxation which has taken place over the period which has greatly reduced the burden of taxation on all income earners and increased the incentive to work. Under An Action Programme for the Millennium, the Government is committed to reducing the standard rate of income tax to 20% and the higher rate to 42% or 40% if economic circumstances permit.