John Perry (Sligo-North Leitrim, Fine Gael)
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Question 100: To ask the Minister for Finance his estimate of the extra VAT raised from oil products to date in 2008 as a result of the rise in international oil prices. [21933/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that the only monthly information available as a basis for estimating the extra VAT generated as a result of the rise in international oil prices is the monthly clearances of Oil Products on which Mineral Oil Tax has been paid to the end of April.

The estimates of the additional VAT yield, provided below, are based on the monthly indicative prices as shown on the National Average Prices Index produced by the Central Statistics Office and comparing them to the corresponding prices in December 2007.

On that basis the estimated additional VAT yield generated to the end of April 2008 is as follows:

I am also informed that VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified and therefore the VAT yield in 2008 to date on oil products cannot be provided. The figures provided in this reply for monthly VAT receipts are estimates of the amount of VAT yield that would be generated by the volume of clearances of oil products up to the end of the period in question. Mineral Oil Tax is paid in the month of clearance of the product but, depending on the nature of the registration status of a trader, VAT returns can be made monthly, bi-monthly, quarterly, half yearly or annually. This will dictate the point in time when VAT on sales will actually be paid to Revenue.

It should also be noted that the VAT content of purchases of Auto-Diesel, Marked Gas Oil and Kerosene is a deductible credit for business in the Irish VAT system. The additional VAT raised on LPG is negligible as sales of this product are very low.