Tuesday, 21 May 2019

Questions (158)

Pearse Doherty

Question:

158. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of increasing the earned income credit to the same level as the PAYE credit; and if he will make a statement on the matter. [21608/19]

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Written answers (Question to Finance)

I am advised by Revenue that estimated costs for increases to the Earned Income Credit are available on page 6 of the Revenue Ready Reckoner, which is available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.

Amounts other than those shown can be extrapolated using a straight line or pro-rata calculation.  On that basis, the cost of increasing the Earned Income Tax Credit by €300 from the current level of €1,350 to €1,650 is €40 million in the first year and €72 million in a full year.