Written answers

Tuesday, 29 September 2015

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

300. To ask the Minister for Finance the cost of introducing a Pay-As-You-Earn credit for self-employed persons of €135; €200; €250; €300; €350; and €400. [33451/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am informed by the Revenue Commissioners that the respective estimated first and full year costs to the Exchequer of introducing such a credit for the following amounts: €135, €200, €250, €300, €350 and €400 are set out in the following table:

CreditFirst Year Cost

€m
Full Year Cost

€m
€1352445
€2003666
€2504582
€3005499
€35063115
€40072132
These estimated costs are based on extending the credits to all non-PAYE cases including Schedule D, Proprietary Directors and assisting spouses. In addition, the estimate includes cases classed as Schedule D where most of their gross income is non-PAYE.  Some of these cases may be availing of the PAYE credit. The estimate does not take into account the ability of the credit to be fully absorbed.

These figures are estimates for 2016 from the Revenue tax forecasting model using the latest actual data for the year 2013, adjusted as necessary for income, self-employment and employment trends in the interim. They are, therefore, provisional and may be revised.

Comments

No comments

Log in or join to post a public comment.