Written answers

Thursday, 5 July 2012

5:00 pm

Photo of John HalliganJohn Halligan (Waterford, Independent)
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Question 21: To ask the Minister for Finance based on the most up to date revenue figures, the total earnings of the top 10% of income earners and the amount of tax this group is paying in absolute and percentage terms; and if he will make a statement on the matter. [32757/12]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the information requested in respect of the top 10% of income earners, estimated by reference to the income tax year 2012, is as follows:

Top 10% of income earners
Gross Income€29,600 million
Amount of income tax€7,080 million
Percentage of income tax due by all income earners60%

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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