Tuesday, 2 July 2013

Questions (195)

Pearse Doherty

Question:

195. Deputy Pearse Doherty asked the Minister for Finance the cost of abolishing the additional 3% universal social charge on income for self-employed earners over €100,000. [31721/13]

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Written answers (Question to Finance)

I am advised by the Revenue Commissioners that the full year cost, estimated by reference to 2013 incomes, from abolishing the additional universal social charge of 3%, which is currently applicable to self-employed income in excess of €100,000, would be of the order of €130 million. This estimate is derived 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.