Dáil Éireann Debate, Thursday - 14 July 2022
279. Deputy Róisín Shortall asked the Minister for Finance the estimated amount of additional revenue that would be raised in 2023 through a third rate of income tax of 41% on incomes above €100,000, as well as 42%, 43%, 44% and 45% in tabular form; and if he will make a statement on the matter. [38898/22]
View answerBased on Revenue’s latest Ready Reckoner (post-Budget 2022), the estimated yield in 2023 from the introduction of a third rate of income tax of 41%, 42%, 43% ,44% and 45% respectively on incomes above €100,000 are set out in the table below.
|
Measure |
2023 Yield *€ million |
|
Third rate of Income Tax of 41% on incomes More than €100,000 |
115 |
|
Third rate of Income Tax of 42% on incomes More than €100,000 |
225 |
|
Third rate of income Tax of 43% on incomes More than €100,000 |
340 |
|
Third rate of Income Tax of 44% on incomes More than €100,000 |
455 |
|
Third rate of Income Tax of 45% on incomes More than €100,000 |
565 |
*figures are rounded to nearest €5 million
I would draw the Deputy's attention to the fact that the post-Budget 2022 Ready Reckoner is available on the Revenue Statistics webpage at:
www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx
The Ready Reckoner provides estimated costs and yields arising from changes to a wide range of taxes and duties, including the introduction of a third rate of Income Tax above certain income levels. Amounts other than those shown in the Ready Reckoner can be extrapolated using a straight line or pro-rata calculation.
