Richard Bruton
Ceist:197 Deputy Richard Bruton asked the Minister for Finance his estimate for the number of car sales in 2010; and the revenues from vehicle registration tax. [43403/09]
Amharc ar fhreagraTuesday, 24 November 2009
Ceisteanna (165, 166)
Freagraí scríofa
While my Department does not publish a separate new car sales forecast, it does form a view as to the likely trends in the car market as part of the overall economic and fiscal forecast. Similarly, Vehicle Registration Tax is forecast as a component of Excise Duty.
On 5 December, my Department will publish the White Paper on Receipts and Expenditure which will contain pre-Budget estimates of tax revenue, including Excise Duties, for 2010. Post-Budget economic and fiscal forecasts, including individual tax-heads, will be published on Budget day, 9 December.
Richard Bruton
Ceist:198 Deputy Richard Bruton asked the Minister for Finance if he has analysed the impact of a scrappage concession on vehicle registration tax of €2,000 for cars of ten years and over; his assessment of the impact on car sales in 2010 on employment in the motor trade and on employment in the economy at large. [43404/09]
Amharc ar fhreagraI am aware of the current challenges facing the motor industry, along with most other industries, arising from the impact of weak world economic activity. I recently announced, following discussions with the motor industry, the introduction of a new VAT Margin Scheme in respect of second-hand cars with effect from 1 January 2010. Under the Margin Scheme, dealers will account for VAT on their profit margin, that is, on the difference between the cost of acquiring the car and its reselling price. This will apply to all second-hand cars purchased by dealers and resold on or after 1 January 2010.
In relation to the introduction of a scrappage scheme, as the Deputy will be aware, taxes are considered in the context of the Budget process. It is the usual practice for the Minister for Finance not to speculate in advance of a Budget on what it will contain; and I do not propose to deviate from that practice.