Written answers

Tuesday, 3 July 2012

9:00 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 188: To ask the Minister for Finance if he will provide the latest figures on the total earnings of the top 1% of income earners; the number of earners in that group; the average earnings of that group, and the total amount of tax on earnings paid by that group, in absolute terms and in percentage, effective tax rate, terms. [31743/12]

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 189: To ask the Minister for Finance if he will provide the most up to date figures on the total earnings of the top 10% of income earners, the number of earners in that group; the average earnings of that group; the total amount of tax on earnings paid by this group, in absolute and percentage, effective tax rate, terms. [31744/12]

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Question 190: To ask the Minister for Finance if he will provide the most up to date figures on the total earnings of the top 20% of income earners; the number of earners in that group; the average earnings of this group; the total amount of tax on earnings paid by this group, in absolute and percentage effective tax rate, terms. [31745/12]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I propose to take Questions Nos. 188 to 190, inclusive, together.

I am advised by the Revenue Commissioners that the information requested in respect of the top 1% of income earners, top 10% of income earners and the top 20% of income earners estimated by reference to the income tax year 2012, are set in the following table:

Top 1% of income earnersTop 10% of income earnersTop 20% of income earners
Number of income earners21,650216,500433,000
Gross income€8,742 million€29,600 million€43,300 million
Average earnings€403,760€136,710€100,000
Amount of income tax€2,463million€7,080 million€9,294 million
Effective tax rate28%24%21%

It should be noted that the figures for tax and effective tax rate only relates to income tax and do not take account of additional liability to PRSI and Universal Social Charge.

The figures are estimates from the Revenue tax-forecasting model using actual data for the year 2009 adjusted as necessary for income and employment trends in the interim. These are, therefore, provisional and likely to be revised.

It should be noted that Gross Income is as defined in Revenue Statistical Report 2010.

A married couple who has elected or has been deemed to have elected for joint assessment is counted as one tax unit.

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