Thursday, 20 June 2019

Questions (71)

Pearse Doherty


71. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of abolishing the additional 3% USC rate payable by some self-employed taxpayers. [25939/19]

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Written answers (Question to Finance)

I am advised by Revenue that the cost of abolishing the 3% USC surcharge that applies to non-PAYE income over €100,000 is estimated at €70 million in the first year and €125 million in a full year.

These estimated figures are based on projected 2019 incomes, calculated on actual data for the year 2016, and may be revised. The estimates do not account for any behavioural effects that might result from abolishing the USC surcharge.