Tax Collection.

Dáil Éireann Debate, Tuesday - 7 April 2009

Tuesday, 7 April 2009

Questions (45, 46)

Leo Varadkar

Question:

41 Deputy Leo Varadkar asked the Minister for Finance further to Parliamentary Question No. 97 of 12 February 2009 if he will estimate the amount that would be raised by an income levy applied as 20% on all income up to €40,000, 30% on income from €40,000 to €80,000, 40% on all income between €80,000 and €120,000 and 50% on all income above €120,000 assuming that the current general and age exemption are not retained; and if he will make a statement on the matter. [14130/09]

Written answers

Minister for Finance (Deputy Brian Lenihan)

I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, from the changes mentioned by the Deputy is estimated to be of the order of €22.4 billion.

The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2005 adjusted as necessary for income and employment growth for 2009. They are therefore provisional and likely to be revised.

Leo Varadkar

Question:

42 Deputy Leo Varadkar asked the Minister for Finance further to Parliamentary Question No. 97 of 12 February 2009, if he will estimate the amount that would be raised by an income levy applied as 20% on all income up to €50,000, 30% on income from €50,000 to €100,000 and 40% on all income above €100,000 assuming that the current general and age exemption are not retained; and if he will make a statement on the matter. [14131/09]

Minister for Finance (Deputy Brian Lenihan)

I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2009, from the changes mentioned by the Deputy is estimated to be of the order of €20.7 billion.

The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2005 adjusted as necessary for income and employment growth for 2009. They are therefore provisional and likely to be revised.

Question No. 43 answered with Question No. 39.