Carol Nolan
Ceist:54. Deputy Carol Nolan asked the Minister for Finance his plans to increase the earned income tax credit to the same level as the PAYE credit; and if he will make a statement on the matter. [42360/17]
Amharc ar fhreagraTuesday, 10 October 2017
Ceisteanna (54)
Freagraí scríofa
The Earned Income Credit was introduced in Budget 2016 and then increased in Budget 2017. The tax credit is available to taxpayers with active self-employed trading or professional income and to business owners or managers who do not have access to the PAYE credit on employment income from their business. The credit provides a significant benefit to small business-owners right across the country including small retailers, publicans, farmers and tradesmen. It is estimated that approximately 147,500 income earners are currently in a position to benefit from the credit.
In Budget 2017, the Earned Income Credit was increased in value from €550 to €950.
As the Deputy will appreciate, with less than a week to go to Budget 2018, it would be inappropriate for me to comment at this point on what may or may not be contained in that Budget.
Question No. 55 answered with Question No. 50.