Tuesday, 11 June 2019

Ceisteanna (174)

Catherine Connolly

Ceist:

174. Deputy Catherine Connolly asked the Minister for Finance the estimated full-year cost if the earned income tax credit for the self-employed increased to €1,500 per year; and if he will make a statement on the matter. [24118/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by Revenue that the estimated cost associated with an increase to the Earned Income Credit can be found on page 6 of the Revenue Ready Reckoner, which is available at the link: https://www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.

It is estimated that an increase in the value of the Earned Income Credit from its current level of €1,350 to €1,500 would have a first year cost of €20 million and a full year cost of €36 million.