Dáil Éireann Debate, Thursday - 16 July 2015
234. Deputy Joanna Tuffy asked the Minister for Finance if he will provide an update on all moneys collected, under the higher rate of universal social charge, on bonuses paid to bankers; and if he will make a statement on the matter. [30412/15]
Amharc ar fhreagraSection 531AAD of the Taxes Consolidation Act 1997 provides for a charge on bonus payments over €20,000 paid to employees of financial institutions that received financial support from the State under the Credit Institutions (Financial Support) Act 2008. This "excess bank remuneration charge" is incorporated into the Universal Social Charge and applies in all respects as if it was USC except that it is charged at a higher rate of 45%. The charge applies for 2011 and subsequent tax years.
The revenue raised and number of individuals who have paid the charge is as follows:
|
Year |
Revenue Raised |
Number of Individuals |
|
2011 |
€1.288m |
47 |
|
2012 |
Nil |
Nil |
|
2013 |
Nil |
Nil |
|
2014 |
Nil |
Nil |
