Skip to main content
Normal View

Tax Yield

Dáil Éireann Debate, Tuesday - 16 October 2012

Tuesday, 16 October 2012

Questions (197)

Arthur Spring

Question:

197. Deputy Arthur Spring asked the Minister for Finance the potential additional revenue that would be acquired through extending the universal social charge 3% surcharge, which currently only applies to the self-employed, to all income earners more than €100,000 irrespective of source. [44434/12]

View answer

Written answers

I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2013 incomes, from extending the additional universal social charge of 3%, which is currently applicable to self-employed income in excess of €100,000, to all income earners at this level of income would be of the order of €71 million. The Universal Social Charge is an individualised charge and as such, the estimate of yield is based on individual incomes of more than €100,000.

The estimated yield is based on confining the extension of the 3% rate to the portion of income which is in excess of €100,000, that is, the increase is not applied to the portion of total income earned up to €100,000.

The figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2010 adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and likely to be revised.

Top
Share