Dáil Éireann Debate, Thursday - 21 May 2026
212. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance to provide details of the revenue collected from the 45% USC rate applied to the full amount of certain bank bonuses each year for which data is available, in tabular from. [38561/26]
View answerSection 531AAD of the Taxes Consolidation Act 1997 provides for a charge to be levied on bonus and similar payments over €20,000 paid to employees of financial institutions that received financial support from the State under the Credit Institutions (Financial Support) Act 2008. This charge, known as the “excess bank remuneration charge”, is incorporated into the Universal Social Charge (USC) and applies in all respects as if it were USC, except that it is charged at a higher rate of 45%. I am advised by Revenue that the revenue raised to date by this charge is as follows:
|
Year |
Revenue raised |
|
2011 |
€1.288m |
|
2012 – 2025 |
Nil |
