Income tax take from high earners down 9.4%

Income tax revenue from high-earners fell by 9.4% in 2014 as a result of a sharp decline in the number of wealthy business people liable for such payments.

A new analysis by Revenue of high-net worth individuals liable for tax shows they paid €54.73m in 2014 — a reduction of €5.7m on the previous year and the lowest level since 2010.

The number of high earners subject to restrictions on the amount of tax relief they can claim decreased by almost 14% — down 125 to 709.