Tax Data

Dáil Éireann Debate, Tuesday - 15 September 2020

Tuesday, 15 September 2020

Ceisteanna (272, 275)

Gerald Nash

Ceist:

272. Deputy Ged Nash asked the Minister for Finance the revenue accrued or spent from reversing the current applicable tax rate for benefit-in-kind, BIK, for company cars in order that an increase in business kilometres driven is matched by increased taxation, that is, 0 km to 24,000 km at 6% and 24,000 km to 32,000 km at 12% and so on in 2021; the way in which this compares with the existing system in tabular form; and if he will make a statement on the matter. [23736/20]

Gerald Nash

Ceist:

275. Deputy Ged Nash asked the Minister for Finance the estimated saving to the Exchequer in 2021 from reducing the cap on BIK relief for electric cars from €50,000 to €35,000; and if he will make a statement on the matter. [23739/20]

Freagraí scríofa

Minister for Finance

I propose to take Questions Nos. 272 and 275 together.

I am advised by Revenue that while some employee-level taxable benefits are recorded separately in employer tax returns, the information required to estimate the Deputy’s proposals are not available.

For the Deputy's information, a revised method for calculating vehicle BIK, based on the CO2 emissions of the vehicle, was enacted in the 2019 Finance Act and will commence with effect from 2023.