Róisín Shortall
Question:89. Deputy Róisín Shortall asked the Minister for Finance if he will provide, in respect of VAT paid for January and February 2017, an in-depth analysis of the total figure paid (details supplied). [12645/17]
View answerThursday, 9 March 2017
Questions (89)
Written answers
I am advised by Revenue that data in relation to VAT receipts from January and February 2017 are still being processed, and in many cases returns in relation to payments for this period are not yet due to be filed. It is therefore not possible to provide the full detail requested by the Deputy.
However, at end-February 2017, €2,816 million was paid into the Exchequer in respect of VAT receipts. This represents a year-on-year increase of just under 17% or €407 million. Based on preliminary data:
- The majority of VAT receipts (nearly 85%) in the period relate to VAT internal, collected from the supply of goods and services in Ireland. This represents an increase of around 12% compared to 2016 levels.
- VAT on goods either (i) imported into Ireland from outside the EU and paid at the point of entry; or (ii) on exciseable goods released from bonded warehouses accounts for around 12% of receipts in the period. This represents an increase of 34% compared to 2016 levels.
- VAT receipts received under the Mini One Stop Shop (VAT MOSS) account for around 4% of receipts in the period. On 1 January 2015, new EU VAT rules came into effect changing the place of supply in respect of all supplies of telecommunications, broadcasting and electronic (TBE) services to consumers from the place where the supplier is located to the place where the consumer resides. VAT MOSS, which is an optional scheme, also came into operation on 1 January 2015 allowing business to submit returns and pay the relevant VAT due to Member States through the web portal of one Member State, instead of having to register for VAT in multiple Member States.
- VAT receipts of around €15 million were collected through settlement of audits and other compliance interventions in the period. In addition to the above, I am advised that:
- VAT collected by Revenue and remitted to other Member States for services under the EU rules governing the place of supply TBE services totalled €244 million in January and February 2017. The total value of payments due to other Member States, but not yet remitted to them is less than €1 million.
- The value of VAT repayments made as part of normal business activity in the period was approximately €670 million. All figures noted above are provisional and may be revised.