Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

It is expected the top 1% of taxpayers, who are those with an annual income in excess of €200,000, will have paid 25% of total income tax and USC last year. That is a very large proportion of our total income tax. In comparison, it is estimated that 75% of taxpayers, those with an income of less than €50,000, will have paid 18% of the total income tax last year. They are the most recent figures I have available.

The Deputy will be aware a Commission on Taxation and Welfare was established in June 2021 and is currently carrying out its work. Wealth taxes, along with any other form of taxation, could fall within this review but the commission is undertaking an independent review. It would not be appropriate for the Minister or me on his behalf to speculate about the specifics of the working contents of that report, which will be published as soon as practicable. We cannot suggest to the commission what it should do. Taxpayers in Ireland in the €100,000 bracket generally pay 40% of their income in income tax. We have a more redistributive tax system than most countries.

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