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Ireland: 130 People Earned €4m Each This Year – And Paid €151m Tax

Friday, 06 December 2013   (0 Comments)
Posted by: Author: Gordon Deegan
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Author: Gordon Deegan (Irish Independent)

AROUND 130 high rollers earned an average of €4m each this year, according to new figures.

They pocketed a total of €527m, paying tax at a rate of 28.6pc, Finance Minister Michael Noonan told the Dail in a written answer to a question from Clare Daly TD.

Each of the 130 will pay an average of €1.1m in tax, resulting in a tax take of €150.94m from the small group. All of the 130 will earn over €2m this year.

These figures include some married couples who had asked for joint assessment.

Mr Noonan said a further 549 will earn between €1m and €2m, generating €733m in gross income and paying tax of €214m.

That means the 549 who earn between €1m and €2m will pay an average tax of €389,853, based on an average rate of 29.2pc.

Another 2,575 taxpayers will earn between €500,000 and €1m, generating an aggregate income of €1.71bn. They will pay income tax of €515m at a range of between 29.3pc and 30.3pc.

A further 10,223 will earn between €250,000 and €500,000, generating €3.34bn in gross income. They will pay €969m in income tax at a rate of 28pc to 30.4pc

The figures show 26,263 taxpayers will earn between €150,000 and €250,000, with an aggregate gross income of €6bn. They will pay €1.6bn in income tax at rates ranging from 25.8pc to 27.4pc.

Just 65,395 taxpayers will earn between €100,000 and €150,000 this year, creating €7.49bn in income paying tax of €1.8bn at rates ranging from 22.4pc to 24.5pc.

This means that fewer than 70,000 people in the country earn more than €100,000.

The largest cohort of taxpayers consists of those earning between €20,000 and €30,000, with 398,715 taxpayers in this bracket. They will generate €9.8bn and pay €376m in income tax on a rate of 3.8pc.

The figures show 302,643 will earn between €30,000 and €40,000, generating a gross income of €10.52bn and paying €761m in tax on rates of 7.2pc. The figures show that more than a million taxpayers will earn less than €30,000.

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