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Tax Code

Dáil Éireann Debate, Tuesday - 4 December 2018

Tuesday, 4 December 2018

Questions (150)

Pearse Doherty

Question:

150. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of indexing all tax thresholds and credits by each band or credit based on wage inflation of 3.8% for the next five years. [50550/18]

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Written answers

As indicated in my previous reply to the Deputy in response to Parliamentary Questions 54 and 55 on 22 November 2018, the Revenue Ready Reckoner presents, on page 10, a table showing the estimated cost to the Exchequer of a 1% indexation of credits, rate bands and exemption limits for Income Tax and the Universal Social Charge.

Increases greater than 1% can be estimated on a straight-line or pro-rata basis from the information shown.

Revenue does not provide cost estimates beyond the tax year 2019.

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