I am advised by the Revenue Commissioners that, assuming the enactment of changes announced in the 2013 Budget, the full year yield, estimated by reference to 2013 incomes, from increasing the rate of universal social charge by 3% on income earned in excess of €100,000 per annum by PAYE and self-employed income earners would be of the order of €71 million and €130 million respectively. 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.