Net Pay Calculation:
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The Ireland Salary Calculator computes net pay by subtracting Income Tax, Universal Social Charge (USC), and Pay Related Social Insurance (PRSI) from gross annual salary, using 2022 tax rates and bands.
The calculator uses the following formula:
Where:
Income Tax: Ireland uses a progressive tax system with standard (20%) and higher (40%) rates. The standard rate applies to the first €36,800 of taxable income.
USC: The Universal Social Charge has four bands with rates from 0.5% to 8% depending on income level.
PRSI: Pay Related Social Insurance is a 4% contribution that funds social welfare benefits.
Instructions: Enter your gross annual salary in EUR. The calculator will compute all deductions and your final net pay based on 2022 tax rates.
Q1: Are these rates for 2022 only?
A: Yes, this calculator uses 2022 tax rates and bands. Check revenue.ie for current rates.
Q2: Are tax credits included?
A: This calculator shows gross tax amounts. Personal tax credits would further reduce your actual tax bill.
Q3: What about pension contributions?
A: Pension contributions are not accounted for in this basic calculator.
Q4: Is this calculator accurate for self-employed?
A: No, this is for PAYE employees only. Self-employed have different PRSI rates.
Q5: Where can I get more precise calculations?
A: For precise calculations including tax credits, use Revenue's online PAYE calculator.