Taxes Consolidation Act 1997 section 531C

Rate of charge

Section 531C set out the rates of income levy that applied to an individual's aggregate income for the years of assessment 2009 and 2010.

• The income levy was introduced by Finance (No. 2) Act 2008, took effect from 1 January 2009 and ceased to apply from 1 January 2011, when it was replaced by the universal social charge.
• For 2009 a five-band composite annualised scale applied, because the underlying rates and bands changed on 1 May 2009.
• For 2010 a simpler three-band scale applied: 2% on the first €75,036, 4% on the next €99,944, and 6% on the balance.
• The composite approach for 2009 ensured that the year-end liability matched what had already been deducted under the pre-May and post-May PAYE scales.