Dáil Éireann Debate, Thursday - 15 November 2012
24. Deputy Joan Collins asked the Minister for Finance his views on whether a 10% super-tax on all incomes in excess of €100,000 would yield more than €2 billion; and if he will make a statement on the matter. [50524/12]
View answerI am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2012 incomes, from imposing a income levy of 10% on all income that is currently liable to the Universal Social Charge (USC) would be of the order of €1,840 million. It should be noted, that the estimated yield is based on applying a 10% levy to all the income of income earners who earn in excess of €100,000, that is, to the income they earn below €100,000 as well as to the income earned above €100,000. The figure is an estimate 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.
