Dáil Éireann Debate, Tuesday - 4 March 2008
592 Deputy Michael McGrath asked the Minister for Communications, Energy and Natural Resources if his Department will include certain electrical vehicles on the list of energy efficient equipment to be published further to Section 42 of the Finance Bill 2008. [8726/08]
View answerSection 42 of the Finance Bill 2008 introduces a new section into the Taxes Consolidation Act 1997 to provide for accelerated capital allowances in respect of expenditure by companies on certain energy-efficient equipment bought for the purposes of the trade.
The scheme will apply to new equipment and a list of energy-efficient equipment, which will be established and maintained by Sustainable Energy Ireland, will include three classes of technology. The technology classes (and minimum expenditure amounts) are: motors and drives (€1,000), lighting (€3,000) and building energy management systems (€5,000).
From January 1 2008, electric vehicles have been exempt from Vehicle Registration Tax and buyers will also benefit from the linking of motor tax rates to CO2 emissions.
