Dáil Éireann Debate, Thursday - 25 September 2014
81. Deputy Michael McGrath asked the Minister for Finance the cost of introducing an earned income credit as recommended by the Commission on Taxation for the self-employed and be equal to the PAYE allowance; and if he will make a statement on the matter. [36396/14]
Amharc ar fhreagraI am advised by the Revenue Commissioners that the cost to the Exchequer of extending the PAYE credit to the self employed and proprietary directors is estimated at €470 million in a full year.
These figures are estimates for 2015 from the Revenue tax forecasting model using the latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment trends in the interim. They are, therefore, provisional and may be revised. A married couple or civil partners who have elected or have been deemed to have elected for joint assessment is counted as one tax unit.
