Written Answers - Tax Code.

Tuesday, 16 February 2010

Dáil Éireann Debate
Vol. 702 No. 2

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  182.  Deputy Richard Bruton  Information on Richard Bruton  Zoom on Richard Bruton   asked the Minister for Finance  Information on Brian Joseph Lenihan  Zoom on Brian Joseph Lenihan   the new effective income tax rates which will apply in a graduated manner to high income individuals earning between €125,000 and €400,000; the way these graduated rates have changed from the previous graduated range of €250,000 to €500,000; and if he will make a statement on the matter. [7677/10]

Minister for Finance (Deputy Brian Lenihan): Information on Brian Joseph Lenihan  Zoom on Brian Joseph Lenihan  The latest information available with regard to the impact of the restriction of reliefs measure on effective income tax rates of those earning in excess of €250,000, and using restricted reliefs, is set out in the report “Analysis of High Income Individuals’ Restriction 2007” which is available on my Department’s website at http://www.finance.gov.ie/documents/publications/reports/2009/analytaxrestrict09.pdf. The particular circumstances of each taxpayer will determine the effective income tax rate in any year. It is estimated that the effective income tax rates for those high income individuals who are subject to the restriction and who earn between €125,000 and €400,000 will, from 2010, range from approximately 8% to around 30%. A full analysis of the effective income tax rates on incomes between €125,000 and €400,000, arising from the extension of the restriction as announced in the 2010 Budget, will be published after the relevant tax returns for 2010 are filed by the individuals affected, including individuals brought within the scope of the measure for the first time.


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