Dáil Éireann Debate, Tuesday - 18 October 2016
204. Deputy Michael McGrath asked the Minister for Finance if he will provide details of the gain for the Exchequer in 2017 through the non-indexation of the taxation system; and if he will make a statement on the matter. [30886/16]
View answerAs part of the Budget 2017 preparation it was estimated that the yield for the Exchequer from non-indexation of the income tax system in 2017 would be in region of c. €385 million in a first year and €450 million on a full year basis. This would imply a carryover of c. €65 million into 2018 and likewise the estimated carryover into 2017 from non-indexation of the income tax system in 2016 is similar. It is important to point out that the calculation of non-indexation in 2017 of the income tax system was prepared on the following technical assumptions:
1. The Revenue Commissioners Pre-Budget 2017 Income Tax ready reckoner.
2. The projected increase in non-agriculture wages in 2017.
