Ireland after tax minimum wage one of highest in the world

    Ireland after tax minimum wage of €7.49 one of highest in the world behind Australia’s €8.44. Ireland has one of the highest minimum wages in the developed world, a new survey has revealed.

    The study found that Ireland has the fourth highest minimum wage of all the Organisations for Economic Co-operation and Development member countries. The OECD is an international economic organisation made up of 34 of the most developed countries on the planet including Japan, Germany and the US.

    The study, which looks at statistics from 2013, looks at the amount that workers on the minimum wage would take home after taxes. Ireland was found to rank fourth in the table with an after tax rate of €7.49 per hour (the net minimum wage rate is €8.65).

    Australia ranked first with €8.44, while Luxembourg and Belgium were second and third with a rate of €8.18 and €7.58 respectively. Mexico ranked last with a rate of just €0.90 per hour while Chile and Latvia ranked near the bottom with respective rates of €1.96and €1.29.

    The minimum wage in Ireland is currently being reviewed by a Low Pay Commission, who are due to report to the Government in July on whether there should be any increase in the country’s minimum wage.

    For further information and assistance on processing payroll for employees, speak to Niamh on +353 (0)41 68 63 000 or Request a callback from our Payroll Team today.

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    Topics: Blog

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