Tuesday, September 21, 2010

New Social Payment

A GROUP assessing the impact of the proposed universal social contribution (USC), to replace employee PRSI, and the health and income levies will report to Minister for Finance Brian Lenihan within weeks.

A new universal social contribution will replace employee PRSI, the health levy and the income levy. It will be paid by everyone at a low rate on a wide base as a collective contribution to public services.

Finance Minister, Mr Lenihan announced his intention to introduce the charge on income in his budget speech last December.

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