Written answers

Thursday, 30 November 2017

Department of Finance

Universal Social Charge Data

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

78. To ask the Minister for Finance the first and full year costs of decreasing the non-PAYE USC surcharge from 3% to 2%, to 1%, to nil, respectively; the estimated number of persons affected by such a change; and if he will make a statement on the matter. [51343/17]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by Revenue that the table sets out the estimated first and full year costs to the Exchequer and the number of income earners affected from decreasing the USC surcharge for non-PAYE income over €100,000 in the manner set out by the Deputy.

USC Surcharge RateFirst Year

€M
Full Year

€M
Numbers
2%-31.4-56.121,800
1%-62.8-112.121,800
0%-94.8-168.221,800

These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2015, adjusted as necessary for income, self-employment and employment trends in the interim. They are estimated by reference to 2018 incomes and are provisional and may be revised.

Comments

No comments

Log in or join to post a public comment.