Written answers
Wednesday, 23 November 2011
Department of Finance
Tax Yield
9:00 pm
Peter Mathews (Dublin South, Fine Gael)
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Question 56: To ask the Minister for Finance his views on a matter (details supplied) regarding incomes; and if he will make a statement on the matter. [36503/11]
Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the number of tax units on income tax records in 2009, the latest year for which the necessary detailed data is available, whose annual gross income exceeded €1 million was 620. It should be noted that a married couple who has elected or has been deemed to have elected for joint assessment is counted as one tax unit. It should be noted that Gross Income is as defined in Revenue Statistical Report, 2009.
Peter Mathews (Dublin South, Fine Gael)
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Question 57: To ask the Minister for Finance his views on a matter (details supplied) regarding tax policy; and if he will make a statement on the matter. [36504/11]
Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of the application of a 5% levy to the gross income of income earners earning in excess of €120,000 per annum would be of the order €520 million. It should be noted that gross income is as defined in Revenue Statistical Report, 2009. These figures are estimates from the Revenue tax-forecasting model using actual data for the year 2009 adjusted as necessary for income and employment trends for the year 2012. They are, therefore, provisional and likely to be revised.
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