Ireland Issues Universal Social Charge (Amendment) Regulations 2014

On 6 January 2015, Ireland published Universal Social Charge (Amendment) Regulations 2014. The changes as introduced in Budget 2015 are:

• The exemption threshold for the Universal Social Charge (USC) is increased from €10,036 in gross income to €12,012 (when the threshold is exceeded all income is subject to USC), and the USC rates are:
  • 1.5% for income up to €12,012
  • 3.5% for income over €12,012 up to €17,576
  • 7% for income over €17,576 up to €70,044
  • 8% for income over €70,044 up to €100,000
  • 8%…