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Dáil Éireann debate -
Thursday, 28 Nov 2002

Vol. 558 No. 3

Written Answers. - Tax Code.

Paul McGrath

Question:

95 Mr. P. McGrath asked the Minister for Finance if, when an announcement is made regarding an increase in excise duty on motor fuels effective from a date, retailers of those fuels are entitled to increase the prices from that date; if wholesale suppliers can increase the price from that date; the situation with the multinational oil companies and the stocks which they hold; and when duties and tax become liable on those stocks. [24135/02]

Motor fuels are liable to mineral oil excise duty at the time they are released for consumption from a refinery or from a depot approved as a tax warehouse. All stocks removed from the tax warehouse following a change in excise duty are subject to the new rate.

As there are no price controls, retailers and wholesale suppliers may vary the price they charge for mineral oils in any circumstance. As the Deputy will appreciate, I have no control over such price changes.

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