Universal Social Charge

Dáil Éireann Debate, Tuesday - 7 July 2020

Tuesday, 7 July 2020

Ceisteanna (167)

Aodhán Ó Ríordáin

Ceist:

167. Deputy Aodhán Ó Ríordáin asked the Minister for Finance the annual cost of the removal of the 3% USC surcharge on incomes over €100,000 for the self-employed. [14114/20]

Freagraí scríofa

Minister for Finance

I am advised by Revenue that the estimated first and full year costs of abolishing the 3% Universal Social Charge (USC) surcharge on incomes over €100,000 for the self-employed are €53m and €98m, respectively. These estimated figures are based on projected 2020 incomes, calculated on the basis of actual data for 2017, which is the latest year for which income tax returns data are currently available. I am further advised by Revenue that income data for 2018 should be available in the coming weeks and may give rise to a revision of these estimates.