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Dáil Éireann díospóireacht -
Thursday, 30 Jun 1988

Vol. 382 No. 11

Written Answers. - Income Tax Bands.

49.

asked the Minister for Finance the cost in 1989 and in a full year to the Exchequer of the introduction of (a) a 25 per cent income tax rate on the first £3,000 of income for a single person (b) 35 per cent on the next £6,000 and (c) 45 per cent over £9,000 per annum, with double these amounts for married people.

The cost to the Exchequer arising from the introduction of the income tax rates and bands referred to by the Deputy is estimated at £332 million in 1989 and £554 million in a full year.

The figure of the full year cost to the Exchequer is the estimated ultimate net cost by reference to the tax assessed in the year 1989-90, whether actually collected in that year or later, including the yield from taxation of declared interest income.

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