Dáil Éireann Debate, Friday - 7 September 2018
185. Deputy Michael McGrath asked the Minister for Finance the reason the costing for equalising the earned income tax credit with the PAYE credit has decreased from €42 million first year cost and €76 million full year cost to €28 million first year cost and €46 million full year cost based on the latest Revenue reckoner; and if he will make a statement on the matter. [36928/18]
View answerI am advised by Revenue that the estimates originally published in the Pre-Budget 2019 Ready Reckoner for the cost of increasing the earned income credit were incorrect.
The matter has been rectified and the correct figures are now published in the Ready Reckoner which is available at https://www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx.
Revenue has confirmed that the earned income credit was the only field in the Ready Reckoner impacted by this error.
