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Ireland/France Tax differences....

  • 30-05-2008 3:21pm
    #1
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭


    I'm trying to figure out how much more or less I would take home should I move back to Ireland and earn the exact same wage. I realise that due to differences in standard of living it's difficult to say if I would be better off or not but I'm hoping to get an average figure to begin with.

    In France I earn approx €4183 gross per month from which €938 (about 20%) in social charges (PRSI) is deducted leaving me €3244 lodged into my bank account. Each April we make our tax returns as there is no PAYE system and these taxes are either paid monthly in advance (set up by you) or as a one-shot payment when you get the bill in September for the previous years taxes.

    I pay about €5000 in taxes (30% bracket) or €416 per month leaving me with a net total of €2828 that it actually 100% mine.



    I believe that in Ireland PRSI is 7% and I'd be in the 20% tax bracket meaning that I'd be paying €292 per month in PRSI leaving me with €3891 per month taxable.


    Would me entire wages be taxable? If so I'd be paying 20% per month of €3891 leaving me €3113 which is only €300 better off than my French figures. In France I have a certain tax-free allowance which I don't think I do in Ireland (married with no kids).

    Is what I'm trying to do too simple? Can anyone double-check to see if/where I'm wrong?


    Thanks !


Comments

  • #2
    the1andonly1
    Registered Users, Registered Users 2 Posts: 224 ✭✭the1andonly1


    http://www.hookhead.com/Tools/tax2008.jsp

    Try this, its quite good. You would be entitled to the single person and paye tax credits, which are in built to this calculator (3660 in total), and may be entitled to other credits and reliefs based on your circumstances (rent relief of 360 per annum, medical relief at your marginal rate....)

    According to that calculator you are almost spot on in your calculation, it gives out 3,163.49 per month, not taking into account ay extra reliefs/credits


  • #3
    Ponster
    Moderators, Recreation & Hobbies Moderators Posts: 10,912 Mod ✭✭✭✭Ponster


    Thanks for that !

    If it turns out as it looks I won't be moving back after all unless I can exoect a huge pay-rise :)


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