Written answers

Tuesday, 12 October 2010

9:00 am

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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Question 216: To ask the Minister for Finance the estimated yield from the income levy, employees and class S PRSI and the health levy in 2010 and 2011 assuming no policy change; and if he will make a statement on the matter. [35852/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The Income Levy is collected by the Revenue Commissioners as a component of Income Tax. In Budget 2010, it was forecast that Income Tax receipts of €11,530 million would be collected in 2010 and it was projected that the yield from the Income Levy would account for about €11⁄2 billion of the overall amount forecast for Income Tax. The 2010 Budget and Revised Estimates for Public Services 2010 provided for the following receipts: PRSI €7,072 million and Health Levy €2,431 million.

As I announced earlier this month in relation to the end-September Exchequer Returns, Income Tax receipts remain behind target, reflecting labour market developments, which may also be affecting PRSI and Health Levy receipts. The implications of a shortfall in receipts for the end year position are currently being examined. Projections for 2011 are currently being compiled in the context of the formulation of the Government's four-year budgetary strategy, which will be published in the first half of November.

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