Written answers
Tuesday, 27 June 2023
Department of Finance
Tax Yield
Brian Stanley (Laois-Offaly, Sinn Fein)
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204. To ask the Minister for Finance the projected revenue raised in first-year 2024 and full-year terms from the scheduled increase in carbon tax on 1 May 2024 and 9 October 2024, respectively and combined. [30794/23]
Michael McGrath (Cork South Central, Fianna Fail)
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I am advised by Revenue that the anticipated revenues to be raised in first-year (2024) and in a full-year from the legislated increases in the carbon tax in May 2024 and October 2024 are estimated as follows.
| Estimate | Carbon €m | VAT €m | Total €m |
|---|---|---|---|
| First Year | 43.0 | 3.8 | 46.8 |
| Full Year | 151.1 | 15.1 | 166.2 |
These estimates are based on the most recent full year data available and do not account for any future behavioural changes.
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