Dáil Éireann Debate, Tuesday - 8 April 2014
157. Deputy Denis Naughten asked the Minister for Finance the total value of funds collected under the universal social charge in 2011, 2012 and 2013 respectively; and if he will make a statement on the matter. [16733/14]
View answerThe Universal Social Charge (USC) was introduced in Finance Act 2011 and applies for the tax year 2011 and subsequent tax years.
The yield from the charge for the years specified is
|
Year |
Yield |
|
2011 |
€3,114m |
|
2012 |
€3,790m |
|
2013 |
€3,930m |
USC is a tax payable on gross income, including notional pay, after any relief for certain trading losses and capital allowances, but before pension contributions. It is not charged on social welfare and similar type payments, or on income which was already subjected to DIRT.
