Tuesday, 8 October 2019

Ceisteanna (52)

Brendan Smith

Ceist:

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]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I 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