I move:
(1) THAT in this Resolution–
"Act of 1999" means the Finance Act, 1999 (No. 2 of 1999);
"tax" means mineral oil tax imposed by section 95 of the Act of 1999.
(2) THAT for the purposes of the tax charged by virtue of section 95 of the Act of 1999, that Act is amended–
(a) with effect as on and from 6 December 2001, by substituting the following for Schedule 2 to that Act:
"SCHEDULE 2
Rates of Mineral Oil Tax
(with effect as on and from 6 December 2001)
|
Description of Mineral Oil |
Rate of Duty |
|
|
Light Oil: |
||
|
Leaded petrol |
£403.02 per 1,000 litres |
|
|
Unleaded petrol |
£316.10 per 1,000 litres |
|
|
Super unleaded petrol |
£398.88 per 1,000 litres |
|
|
Aviation gasoline |
£201.51 per 1,000 litres |
|
|
Heavy Oil: |
||
|
Used as a propellant |
£237.80 per 1,000 litres |
|
|
Kerosene used other than as a propellant |
£25.00 per 1,000 litres |
|
|
Fuel oil |
£10.60 per 1,000 litres |
|
|
Other heavy oil |
£37.30 per 1,000 litres |
|
|
Liquefied Petroleum Gas: |
||
|
Used as a propellant |
£41.75 per 1,000 litres |
|
|
Other liquefied petroleum gas |
£14.30 per 1,000 litres |
|
|
Substitute Fuel: |
||
|
Used as a propellant |
£237.80 per 1,000 litres |
|
|
Other substitute fuel |
£37.30 per 1,000 litres |
|
",
(f2>b) with effect as on and from 1 January 2002, by substituting the following for Schedule 2 (inserted by paragraph (2)(f2>a) of this Resolution) to that Act:
"SCHEDULE 2
Rates of Mineral Oil Tax
(with effect as on and from 1 January 2002)
|
Description of Mineral Oil |
Rate of Duty |
|
|
Light Oil: |
||
|
Leaded petrol |
511.72 per 1,000 litres |
|
|
Unleaded petrol |
401.36 per 1,000 litres |
|
|
Super unleaded petrol |
506.47 per 1,000 litres |
|
|
Aviation gasoline |
255.86 per 1,000 litres |
|
|
Heavy Oil: |
||
|
Used as a propellant |
301.94 per 1,000 litres |
|
|
Kerosene used other than as a propellant |
31.74 per 1,000 litres |
|
|
Fuel oil |
13.45 per 1,000 litres |
|
|
Other heavy oil |
47.36 per 1,000 litres |
|
|
Liquefied Petroleum Gas: |
||
|
Used as a propellant |
53.01 per 1,000 litres |
|
|
Other liquefied petroleum gas |
18.15 per 1,000 litres |
|
|
Substitute Fuel: |
||
|
Used as a propellant |
301.94 per 1,000 litres |
|
|
Other substitute fuel |
47.36 per 1,000 litres |
|
",
(f2>c) with effect as on and from 1 March 2002, by substituting the following for Schedule 2 (inserted by paragraph 2(f2>b) of this Resolution) to that Act:
"SCHEDULE 2
Rates of Mineral Oil Tax
(with effect as on and from 1 March 2002)
|
Description of Mineral Oil |
Rate of Duty |
|
|
Light Oil: |
||
|
Leaded petrol |
511.72 per 1,000 litres |
|
|
Unleaded petrol |
401.36 per 1,000 litres |
|
|
Super unleaded petrol |
506.47 per 1,000 litres |
|
|
Aviation gasoline |
255.86 per 1,000 litres |
|
|
Heavy Oil: |
||
|
Used as a propellant with a maximum sulphur content of 50 milligrammes per kilogramme |
301.94 per 1,000 litres |
|
|
Other heavy oil used as a propellant |
354.33 per 1,000 litres |
|
|
Kerosene used other than as a propellant |
31.74 per 1,000 litres |
|
|
Fuel oil |
13.45 per 1,000 litres |
|
|
Other heavy oil |
47.36 per 1,000 litres |
|
|
Liquefied Petroleum Gas: |
||
|
Used as a propellant |
53.01 per 1,000 litres |
|
|
Other liquefied petroleum gas |
18.15 per 1,000 litres |
|
|
Substitute Fuel: |
||
|
Used as a propellant |
301.94 per 1,000 litres |
|
|
Other substitute fuel |
47.36 per 1,000 litres |
|
",
(3) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
Financial Resolution No. 2 provides, with effect from midnight tonight, for increases in mineral oil tax on petrol and auto diesel. These increases, when VAT is included, amount to 5p, or just under 6.4 cent, on a litre of petrol and auto diesel. As signalled, it is also proposed for environmental reasons to increase the rate on auto diesel with a higher sulphur content by a further amount of 5p, or 6.54 cents inclusive of VAT, from 1 March next by which time the trade should be able to complete the transition to the lower sulphur product. Irish petrol and diesel rates are now among the lowest in the European Union, and prices at the pumps have also fallen over the past 12 months by an average of 10p for unleaded petrol and 16p for auto diesel. It is considered that there is scope for an increase at this time. An additional increase of 5p is supplied to substitute auto fuels to keep in line with the rate of tax on auto diesel.
The resolution also provides for an increase of 2.5p, or 3.17 cent, inclusive of VAT, on aviation gasoline for use by aircraft other than commercial aircraft where no excise applies. These increases are expected to result in additional Exchequer yields of £7.4 million, or 9.4 million, this year and £168.5 million, or 214 million, next year. The effects on the CPI will be an increase of 0.336%.