Tommy Broughan (Dublin North East, Labour)
Link to this: Individually | In context

Question 69: To ask the Minister for Finance the amount of revenue generated through VAT on petrol and diesel in the past six months; the corresponding figures for 2006, 2007 and 2008; and if he will make a statement on the matter. [24221/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

I am informed by the Revenue Commissioners that the data currently available on the amounts of VAT generated in 2009 on petrol and auto-diesel relate to the first five months of the year, i.e. January to May inclusive. The amounts of revenue generated through VAT on petrol and auto-diesel for the period 1 January to 31 May 2009, and for the corresponding periods in 2006, 2007 and 2008, are set out in the following table.

The decrease in yields to date in 2009 compared to 2008 arise mainly from the reduction in the prices of petrol and especially of auto-diesel this year to date compared to 2008, and weaker economic activity.

Estimated VAT Receipts from petrol and auto-diesel in the first five months of 2006 to 2009

Note: VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified. The figures provided are estimates of the amount of VAT yield that would be generated by the volume of clearances of petrol and auto-diesel up to the end of May. VAT returns can be made monthly, bi-monthly, quarterly, half yearly or annually depending on the nature of the registration status of a trader, and this will dictate the point in time when VAT on sales will actually be paid. It should also be noted that the VAT content of purchases of auto-diesel is a deductible credit for business in the Irish VAT system.