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Tax Collection Forecasts

Dáil Éireann Debate, Tuesday - 30 June 2015

Tuesday, 30 June 2015

Questions (247)

Peadar Tóibín

Question:

247. Deputy Peadar Tóibín asked the Minister for Finance the revenue that would be raised from an increase in vehicle registration tax rates across all bands by 30%. [26035/15]

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Written answers

The new bands which would arise from a global 30% increase in rates of VRT are outlined as follows:

Band

Current Rate

Proposed Rate

A1

14%

18.2%

A2

15%

19.5%

A3

16%

20.8%

A4

17%

22.1%

A5

18%

23.4%

A6

19%

24.7%

A7

23%

29.9%

A8

27%

35.1%

A9

30%

39.0%

A10

34%

44.2%

A11

36%

46.8%

The following table outlines the increase in revenue that would arise from introducing the new proposed rates of VRT for a given level of new and used private motor car sales:

New car reg

100,000

110,000

120,000

130,000

Yield

€161m

€178m

€195m

€212m

Used car reg

35,000

40,000

45,000

50,000

Yield

€37m

€42m

€47m

€53m

Total

€198m

€220m

€242m

€265m

I would note that a VRT increase of this scale would lead to a reduction in the demand for private motor cars.

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