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Tax Credits

Dáil Éireann Debate, Wednesday - 30 September 2020

Wednesday, 30 September 2020

Ceisteanna (71)

Brendan Griffin

Ceist:

71. Deputy Brendan Griffin asked the Minister for Finance the estimated cost of increasing the earned income tax credit for the self-employed to €1,650; if the gap between the self-employed and PAYE workers will be bridged in budget 2021; and if he will make a statement on the matter. [27619/20]

Amharc ar fhreagra

Freagraí scríofa

I am advised by Revenue that estimated costs for increases to the Earned Income Credit are available on page 6 of the Revenue Ready Reckoner, which is available on the Revenue website at link: https://www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.  As this sets out, the estimated cost of increasing the Earned Income Credit by €150 to €1,650 is €13m in the first year and €24m in a full year.

The Programme for Government ‘Our Shared Future’ contains a number of commitments relating to taxation, including those referred to by the Deputy. The intention is to deliver these commitments over the life of the Government and decisions will be made in due course.

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