Finian McGrath (Dublin North Central, Independent)
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Question 190: To ask the Minister for Finance the amount of tax revenue that could be generated if those earning in excess of €100,000 where to be taxed at a rate of 48% [38583/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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It is assumed that the threshold for the proposed new tax band mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2011 incomes, of the introduction of a new 48% rate would be of the order of €410 million. Given the current band structures, major issues would need to be resolved as to how in practice such a new rate could be integrated into the current system and how this would affect the relative position of different types of income earners.

This figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2008, adjusted as necessary for income and employment trends for the year 2011. It is therefore provisional and likely to be revised.

Jimmy Deenihan (Kerry North, Fine Gael)
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Question 191: To ask the Minister for Finance the cost of the artist's tax exemption scheme since it was capped in 2007 [38603/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that the latest relevant available information relates to the income tax year 2007. In that year, an estimated 2,650 claimants availed of the artists' exemption scheme at an estimated cost to the Exchequer of €27 million. It should be noted that this figure takes account of the restriction of reliefs measure as applied to the exemption of certain earnings of writers, composers and artists which took effect for the first time in 2007. The impact of the measure in that year was to reduce the value of the income tax relief by €4 million.

The restriction was originally provided for in section 17 of Finance Act 2006 and was significantly tightened in Section 23 of Finance Act 2010. Individuals are now subject to the restriction where they have adjusted income of €125,000 and claim specified tax reliefs of €80,000 or more. Those subject to the full restriction will pay an effective income tax rate of 30% in addition to PRSI and levies.