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How much is the Universal Social Charge going to make in 2014?

Hint: Think billions.

THE UNIVERSAL SOCIAL Charge will net the exchequer over €4 billion next year, the Finance Minister has told the Dáil.

Michael Noonan revealed the figures on foot of a Dáil question from his party colleague Eoghan Murphy.

The figure is broadly in line with this year’s projected income, but income from the charge has risen over 25 per cent since it was implemented in 2011.

In total, people who earn between €100,000 and €120,000 will pay the most USC, accounting for €262 million of the total. The figures also showed that 148 people who earn over €2 million will pay €39 million in USC this year.

The USC will account for €4 billion of a projected €17 billion tax take in 2014, Noonan said. He added that the figures are provisional.

“The figures are estimates from the Revenue tax forecasting model using actual data for the year 2011, adjusted as necessary for estimated income and employment trends in the interim.

“These are, therefore, provisional and likely to be revised.”

The USC is payable on all gross income that replaced the income levy and health levy in Budget 2011.

Read: Irish workers will pay €4 billion in Universal Social Charge this year

Read: Counting the pennies: where your tax money will go in 2013

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44 Comments
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    Mute François Pignon
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    Jun 1st 2022, 5:53 PM

    Great! And a lovely country to visit. When i was younger I bused from Dubrovik to Venice for 3 weeks with the odd ferry trip thrown in. Highlights were the pig on a spit, fruity brandies the hilltop town of motovun and the plitvic lakes.

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    Mute Pat Barry
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    Jun 1st 2022, 6:24 PM

    @François Pignon: In 1988 when I finished working in BMW for the summer I coached it down to a lovely town called Porec, 11 hour trip, got off for a breather some ways down but then slowly realised the coach had left without us, the taxi driver was delighted with the 200 Rothmans I gave him to catch it!

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    Mute Tony Harris
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    Jun 1st 2022, 7:52 PM

    @Pat Barry: Brilliant

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    Mute O'Brien
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    Jun 1st 2022, 5:26 PM

    I am not sure the € will survive the autumn.

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    Mute Mike Grimes
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    Jun 1st 2022, 7:22 PM

    Watch their prices shoot up. The euro in Spain was worth 166 pesetas. The day before the euro came in a coffee or a small glass of beer, a caña, was 100 pesetas. The day after they were €1. We got ripped off.

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    Mute Paul O Meara
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    Jun 1st 2022, 5:11 PM

    At this stage I don’t want euro because of inflation

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    Mute François Pignon
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    Jun 1st 2022, 5:57 PM

    @Paul O Meara: try bitcoin then.

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    Mute Paul O Meara
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    Jun 1st 2022, 6:01 PM

    @François Pignon: already done

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    Mute Ciaran O'Mara
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    Jun 1st 2022, 8:09 PM

    @Paul O Meara: so what do you want to do, Paul, barter goods?

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    Mute Ivor McTin
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    Jun 2nd 2022, 3:19 AM

    Foolish move. Euro is a disaster. Almost parity with the dollar and sinking lower.

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