Dáil Éireann Debate, Tuesday - 24 July 2018
2564. Deputy Richard Boyd Barrett asked the Minister for Employment Affairs and Social Protection the amount that would be collected if a new PRSI rate of 19.75% was introduced for employers hiring staff who earn more than €100,000; and if she will make a statement on the matter. [35025/18]
Amharc ar fhreagraCurrently, Class A employers pay PRSI at the rate of 8.6% where weekly earnings are between €38 and €376. Once weekly earnings exceed €376, the rate of employer PRSI is 10.85%.
The estimated yield from increasing the higher PRSI rate of 10.85% to 19.75% for employees earning over €100,000 per annum (applied only on earnings over €100,000) is €640m.
These estimates are based on the latest available data and reflect macro-economic indicators for 2019. It should be noted that these estimates do not take possible changes in employer behaviour arising from increasing the rates of contributions into account.
