Gerry Adams (Louth, Sinn Fein)
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To ask the Minister for Finance his plans to insert a new provision in the tax code to ensure that tax units with incomes over €250,000 must comply with a minimum effective tax rate of 30%. [48631/12]

Michael Noonan (Limerick City, Fine Gael)
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It is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However, the Deputy will be aware of the high income individuals’ restriction, which is already in place. The most recent report by the Revenue Commissioners on the restriction is in respect of the 2010 tax year. This report was published by my Department on 1 August 2012 and is available on the Department’s Tax Policy website . The restriction, since 2010, applies to a greater number of individuals. The adjusted income threshold at which the restriction begins to apply is €125,000 and the relief threshold is €80,000 or 20% of adjusted income, whichever is higher. The objective of these changes was to achieve an average effective rate of income tax of 30 per cent where the restriction applies in full i.e. for those with adjusted incomes of €400,000 or greater. This effective rate does not include amounts payable in respect of PRSI and other levies and charges i.e. the Income Levy and Health Levy which applied in the tax year 2010 and the Universal Social Charge which applies from the tax year 2011.