Dáil Éireann Debate, Thursday - 23 February 2023
202. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question Nos. 188 and 189 of 14 February 2023, the revenue raised by increasing the natural gas carbon tax by €7.50 per tonne of CO2 emitted; the revenue foregone by decreasing the natural gas carbon tax by €7.50 per tonne of CO2 emitted, to year end-2022 and in full-year terms. [9420/23]
Amharc ar fhreagraI am advised by Revenue that Natural Gas Carbon Tax (NGCT) is scheduled to increase by €7.50 per tonne of CO2 emitted on 1 May 2023. It is estimated that the revenue raised from this increase is provided in the table below.
|
Accounting Period |
Payable |
Revenue (€million) from €7.50 per tonne increase/decrease |
|
1 May - 30 June |
Jul-23 |
2.3 |
|
1 July - 31 Aug |
Oct-23 |
1.7 |
|
1 Sept - 31 October |
Nov-23 |
2.4 |
|
1 November - 31 December |
Jan-24 |
4.5 |
|
1 Jan - 28 Feb |
Mar-24 |
5.5 |
|
1 March - 30 April |
May-24 |
4.5 |
I am further advised that the revenue forgone from not proceeding with the legislated increase, or the revenue forgone from the introduction of an equivalent decrease, can be inferred from the above table.
This is a tentative estimate and does not account for any behavioural changes.
