Written answers

Thursday, 22 November 2007

3:00 pm

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
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Question 71: To ask the Tánaiste and Minister for Finance the number of high earners earning over €250,000 for whom the effective rate of tax was 15% or less in the most recent year for which data is available. [30485/07]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that the most recent basic data on incomes available from which information of the type requested by the Deputy could be derived are in respect of the income tax year 2004. If the effective rate of income tax for each income earner with gross income in excess of €250,000 in 2004 is calculated as the percentage of total tax liability to gross income some 937 income earners in this income category, or 10 per cent of the total, had an effective tax rate of 15 per cent or lower. The corresponding percentage for income earners with gross income in excess of €250,000 in 2003 was 10 per cent. These figures take account of Deposit Interest Retention Tax paid. Gross income is income before adjustments are made in respect of capital allowances, interest paid, losses, allowable expenses, retirement annuities etc. but after deduction of superannuation contributions by employees. A married couple who have elected or have been deemed to have elected for joint assessment is counted as one tax unit.

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