Written answers
Thursday, 18 September 2014
Department of Finance
Motor Industry
Brendan Griffin (Kerry South, Fine Gael)
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82. To ask the Minister for Finance the increased yield to date in 2014 compared to the same period last year and in 2012 in taxes and Government charges related to the sale of new motor vehicles; the anticipated end of year increase in revenue; his views that this increase in revenue will be continued in 2015; if he views increasing vehicle sales as a positive economic indicator; and if he will make a statement on the matter. [34990/14]
Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that the available information to August 2014 is in respect of VRT on all motor vehicles and estimated VAT as follows:
| Year | VRT | VAT (Estimated) |
|---|---|---|
| - | €m | €m |
| 2012 (8 Mths) | 361.8 | 175 |
| 2013 (8 Mths) | 363.5 | 176 |
| 2014 (8 Mths) | 461 | 224 |
The anticipated yield in respect of VRT for the full year 2014 is €543m, which is €106m more than the full year in 2013.
It should be noted that receipts shown are for the period January to August each year. The 2014 receipts are provisional at this time and may be subject to revision.
New motor car sales to end August 2014 were 86,144, an increase of 20,174 (or 30.6%) on the same period in 2013. Indeed, it is estimated that new car sales this year will be the highest since 2008. There has also been an increase in the sales of commercial vehicles of the type used by small and medium enterprises. To end July 2014, there have been 12,977 registrations of new commercial vehicles used for the carriage of goods (categorised as Category C for VRT purposes), a 3,462 (26.6%) increase on the same period in 2013.
I view the increase in motor vehicle sales this year as a sign of increasing confidence in the recovery of the economy.
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