asked the Minister for Finance the amount of revenue collected from VAT and if he will categorise the goods and services which provide the higher sources of VAT.
Written Answers. - VAT Revenue.
404.
In 1982, the last year for which analysis of VAT collected is available, the net receipts were £951.50 million. Those receipts apply to VAT rates as follows:
|
Rate |
Period of year in force |
Receipts |
|
(%) |
(£m.) |
|
|
15 |
1 January to 30 April |
304.57 |
|
18 |
1 May to 31 December |
349.86 |
|
25 |
1 January to 30 April |
125.79 |
|
30 |
1 May to 31 December |
147.67 |
|
Other (see Note) |
— |
23.61 |
As VAT returns show only figures of sales and tax at each rate it is not possible to produce definitive information on the yield from particular categories of goods or services. However, it is estimated that the main categories from which substantial VAT yield was derived in 1982 were as follows:
|
Category |
Applicable VAT rate |
Estimated yield |
|
(%) |
(£m) |
|
|
Alcoholic drink |
15/18 |
143 |
|
Petrol |
15/18 |
87 |
|
Motor vehicles |
15/18 |
66 |
|
Taxable food & soft drinks |
15/18 |
52 |
|
Tobacco & tobacco products |
15/18 |
49 |
Note: The yield from other rates relates to tax received for prior years' transactions which were liable to VAT at rates not in force in 1982.