Dáil Éireann Debate, Tuesday - 30 June 2015
269. Deputy Peadar Tóibín asked the Minister for Finance if he will provide, in tabular form, the revenue that would be generated by providing a full pay-as-you-earn credit for self-employed persons with income up to €70,000, a reduced credit by 5% per €1,000 for gross income between €70,000 and €90,000, and a 0% credit on gross income in excess of €90,000. [26378/15]
Amharc ar fhreagraI am informed by the Revenue Commissioners that the estimated first and full year cost of providing a PAYE credit to self-employed persons as set out by the Deputy is as follows:
|
Income Range |
First Year Cost €m |
Full Year Cost €m |
|
< €70,000 |
90 |
198 |
|
€70,000 - €90,000 |
11 |
20 |
|
Total Cost |
101 |
218 |
These figures are estimates for 2015, from the Revenue tax forecasting model using data for the year 2012, the latest year for which data are available, adjusted as necessary for income, self-employment and employment trends in the interim. They are provisional and may be revised.
I am also advised by the Revenue Commissioners that, given the current tax structures, major issues would need to be resolved as to how in practice such a credit could be integrated into the current system and how this would affect the relative position of different types of income earners.
