Tuesday, 15 May 2018

Ceisteanna (194)

Pearse Doherty


194. Deputy Pearse Doherty asked the Minister for Finance the estimated loss of revenue from abolishing the universal social charge in full. [21225/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The loss to the Exchequer from abolishing USC would depend upon a number of factors, inter alia, the year in which it would end, labour market developments, and so on.

In 2018, the Universal Social Charge (USC) is projected to raise approximately €3.7 billion in Exchequer receipts terms. This represents approximately 17% of total expected income tax receipts and approximately 6% of the total expected tax receipts for 2018 based on Budget 2018 projections.