Revenue wants new tax rate for country's high earners

The Revenue Commissioners want a new tax rate for the country's highest earners.

They say anyone making more than €80,000 a year should have to pay 43% income tax.

Currently the top tax band is 40%, which kicks in when a single person without children earns over €34,500.

Revenue has based its figures on estimates for the tax take next January.

But Sinn Féin's Pearse Doherty says it has set the income threshold too low.

"There's no doubt about it, you can bring in a lot of money if you introduced a third rate of tax.

"What is being reported in the papers today is introducing it at a rate of €80,000. That's not a level I agree with.

"We've always argued that the starting point for a third rate of tax would be the income above €100,000.

- Digital Desk

More on this topic

€40m remains unpaid by tax defaulters in last two years

Donohoe standing by promises for major tax cuts

Financial advisors baffled by Irish discriminatory savings tax rates

Carbon and company tax proposed for ‘socially fair budget’

More in this Section

216 jobs set to go as Cork mail site closes

‘My life, my name, everything is on the line’

Chipper worker used inside knowledge for €15k burglary

No winner of main Lotto prize, but one ticket scoops €129k


Review: Lauryn Hill proves she still has that thing

Darina Allen: A celebration of Irish produce

Gone to pot: Leading psychiatrist on the cannabis debate

Why London is the perfect hunting ground for antique lovers this month

More From The Irish Examiner