Dáil Éireann Debate, Wednesday - 20 March 2024
276. Deputy James O'Connor asked the Minister for Finance the position regarding new NGCT relief provisions being prepared by the Revenue Commissioners; when are they expected to be commenced; and if he will make a statement on the matter. [13187/24]
Amharc ar fhreagraThe Finance Act 2022 provided for two tax relief measures targeted at supporting the horticultural and mushroom cultivation sectors: enhancement of an existing Mineral Oil Tax (MOT) relief for certain heavy oils and liquified petroleum gas used for qualifying purposes, and the introduction of a new relief from Natural Gas Carbon Tax (NGCT) when used for similar purposes. The legislation provided that the two measures were subject to commencement orders, so as to allow Revenue time to carry out the necessary preparatory work before they came into effect.
The arrangements for the changes to the MOT relief were completed last year and I commenced the provisions for the enhanced MOT relief on 1 June 2023. I understand that Revenue’s preparatory work for the introduction of the new NGCT relief, which was more complex, is now almost complete, and in the coming days I intend to sign a commencement order to bring the new NGCT relief provisions into effect on 1 April 2024. This means that natural gas supplied from 1 April 2024, and used for qualifying purposes, will be eligible for a full refund of NGCT.
I am advised by Revenue that the first monthly claims under the new relief provisions can be submitted from 1 May 2024. Revenue will publish information about the NGCT relief on its website by 1 April, and detailed guidance for claimants will be available in a Tax and Duty Manual which will also be published on the Revenue website.
