Dáil Éireann Debate, Tuesday - 8 October 2019
52. Deputy Brendan Smith asked the Minister for Finance the estimated loss of revenue since 2016 due to the reduction in new car sales; the corresponding increase in imported second-hand vehicles; the measures he plans to take to protect the motor trade and its substantial employment level; and if he will make a statement on the matter. [41100/19]
View answerI am advised by Revenue that while there has been a shift in purchaser behaviour from new to used cars since 2016, overall Vehicle Registration Tax (VRT) receipts have increased as set out in the following table. VRT receipts for 2019 are also expected to increase on previous years based on trends to September.
However, Value-Added Tax (VAT) receipts in the sector have fallen relative to 2016 due to the reduction in the number of new cars sold.
|
Year |
New Cars Registered |
Used Cars Registered |
VRT (New Cars) |
VRT (Used Cars) |
Total VRT |
Total VAT |
|
€m |
€m |
€m |
€m |
|||
|
2016 |
141,660 |
69,301 |
588 |
177 |
765 |
750 |
|
2017 |
126,628 |
91,033 |
552 |
247 |
799 |
706 |
|
2018 |
121,092 |
98,415 |
559 |
271 |
830 |
699 |
|
2019 (9 months) |
110,023 |
81,115 |
582 |
234 |
816 |
658 |
