Róisín Shortall
Question:306. Deputy Róisín Shortall asked the Minister for Finance the amount of revenue raised and the number of persons through the imposition of a 45% USC rate on bank bonuses with a breakdown by year. [41452/14]
View answerTuesday, 4 November 2014
Questions (306)
Written answers
Section 531AAD of the Taxes Consolidation Act 1997 provides for a charge on bonus payments that exceed €20,000, paid to employees of financial institutions that received financial support from the State under the Credit Institutions (Financial Support) Act 2008. This charge, the "excess bank remuneration charge", is incorporated into the Universal Social Charge and applies in all respects as if it was USC except that it is charged at a higher rate of 45%. The normal USC rates are not applied. The charge applies for 2011 and subsequent tax years.
The revenue raised and number of individuals who have paid the charge is as follows:
|
Year |
Revenue Raised |
Number of Individuals |
|
2011 |
€1.288m |
47 |
|
2012 |
Nil |
Nil |
|
2013 |
Nil |
Nil |