Written answers
Tuesday, 2 July 2013
Department of Finance
Universal Social Charge Exemptions
Pearse Doherty (Donegal South West, Sinn Fein)
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195. To ask the Minister for Finance the cost of abolishing the additional 3% universal social charge on income for self-employed earners over €100,000. [31721/13]
Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the full year cost, estimated by reference to 2013 incomes, from abolishing the additional universal social charge of 3%, which is currently applicable to self-employed income in excess of €100,000, would be of the order of €130 million. This estimate is derived from the Revenue tax-forecasting model using actual data for the year 2010 adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and likely to be revised.
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