The estimated income of the top-10,000 earners in Ireland this year is estimated to be €5,959 million, or an average of €595,900 per person. The amount of annual income tax payable in this is €1,715 million – an effective tax rate of 29%
The effective tax rate does not include additional liability in respect of social charges – PRSI and Universal Social Charge. A married couple may elect for joint assessment and counted as one tax payer.
The following details relate to the top 1% of income earners; the top 10% of income earners and the top 20% of income earners: €
| Top 1% | Top 10% | Top 20% | |
| Number of earners | 21,650 | 216,500 | 433,000 |
| Gross income | €8,742 million | €29,600 million | €43,300 million |
| Average earnings | €403,760 | €136,710 | €100,000 |
| Amount of tax | €2,463 million | €7,080 million | €9,294 million |
| Effective tax rate | 28% | 24% | 21% |
The number of income earners earning more than €100,000 in 2012 is 113,500. The top rate of income tax is 41% which applies to single individuals earning over €32,800, married couples – one earning in excess of €41,800 and married couples – both earning in excess of €65,600.
Other streams of income are taxed at different rates. Deposit interest income is liable to tax at 30%.
If a 50% income tax rate was to be applied to incomes in excess of €100,000 the estimated yield in a full year would be €490 million.
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