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]
View answerTuesday, 30 June 2015
Questions (247)
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.