Dáil Éireann Debate, Thursday - 14 July 2022
280. 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%, assuming tax band indexation of 4% in tabular form; and if he will make a statement on the matter. [38899/22]
View answerI am advised by Revenue that the tables below set out the estimated costs and yields to the Exchequer, as appropriate, on a first and full year basis, of the policy changes outlined by the Deputy.
|
Scenario |
First Year Cost €m |
Full Year Cost €m |
|
SRCOP* indexed at 4%. 41% rate over €100,000 |
200 |
220 |
|
SRCOP indexed at 4%. 42% rate over €100,000 |
85 |
75 |
|
Scenario |
First Year Yield €m |
Full Year Yield €m |
|
SRCOP indexed at 4%. 43% rate over €100,000 |
25 |
65 |
|
SRCOP indexed at 4%. 44% rate over €100,000 |
140 |
210 |
|
SRCOP indexed at 4%. 45% over €100,000 |
255 |
350 |
*Standard Rate Cut-off Point
