Written answers
Tuesday, 15 July 2014
Department of Finance
Tax Yield
Terence Flanagan (Dublin North East, Independent)
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170. To ask the Minister for Finance the amount that would be raised by the Exchequer if income tax was increased by 1%, 2% or 3% in each tax band; and if he will make a statement on the matter. [30883/14]
Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2014 incomes, of increasing both standard rate and higher rates of Income Tax by 1, 2 and 3 percentage points would be approximately €660 million, €1,330 million and €2,000 million respectively.
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