130 taxpayers earn over €2m a year, Noonan reveals

More than 620 taxpayers earned between €1m and €2m last year, with 130 earning over €2m.

Finance Minister Michael Noonan said the Revenue Commissioners estimated that the 130 taxpayers received an aggregate €545m in gross income in 2012.

The 130 paid €151.7m in income tax.

In a written Dáil response to Róisín Shortall TD, Mr Noonan confirmed that a total of 621 people earned between €1m and €2m — up from the 594 in the same pay bracket in 2011.

The 621 individuals generated €815.4m in earnings, paying €222.1m in income tax.

In spite of the continuing recession, the number of taxpayers earning over €500,000 grew from 3,382 in 2011 to 3,443 last year — an increase of 61.

Meanwhile, 2,692 people earned between €500,000 and €1m generating an aggregate income of €1.793bn, paying income tax worth €522m.

The minister confirmed that a further 10,046 people earned between €250,000 and €500,000, generating about €3.34bn in income and paying €934m in income tax.

There were 25,669 who earned between €150,000 and €250,000, with an aggregate gross income of €4.78bn and paying €1.24bn in income tax.

Mr Noonan also confirmed that 65,395 taxpayers earned between €100,000 and €150,000 last year, creating €7.77bn and paying €1.779bn.

The largest cohort of taxpayers are those earning between €20,000 and €30,000, with 390,082 taxpayers in this bracket generating €9.67bn and paying €373m in income tax.

The figures show 299,435 earn between €30,000 and €40,000, generating a gross income of €10.4bn and paying €773m in tax.

More than 1m taxpayers earn less than €30,000.

The figures show that 2.156m taxpayers generated €80.8bn in gross income and paid €11.2bn in income tax.

Mr Noonan pointed out “that a married couple which has elected or has been deemed to have elected joint assessment is counted as one tax unit”.


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