Frank Feighan
Question:78. Deputy Frankie Feighan asked the Minister for Finance the estimated cost of making all income below €30,000 exempt from USC; and if he will make a statement on the matter. [4685/20]
View answerWednesday, 13 May 2020
Questions (78)
Written answers
I am advised by Revenue that the estimated first and full year cost to the Exchequer of exempting all income below €30,000 from the Universal Social Charge (USC) is €1,056m and €1,219m respectively.
This estimate has been generated by reference to 2020 incomes, calculated on the basis of actual data for the year 2017, the latest year for which returns are available, adjusted as necessary for income, self-employment and employment trends in the interim. The estimates are provisional and may be revised.