Written answers
Tuesday, 23 January 2024
Department of Finance
Tax Yield
Pearse Doherty (Donegal, Sinn Fein)
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208. To ask the Minister for Finance if, given the fact that revenue raised by the increase in the carbon tax in 2024, estimated at €117 million and €152 million in first and full-year terms respectively (provided in page 4 of the Budget 2024 document ‘Tax Policy Changes’), revenue raised by legislated increases in the carbon tax is not provided within the revenue base for subsequent years (2025, 2026, etc.); and if he will make a statement on the matter. [2539/24]
Michael McGrath (Cork South Central, Fianna Fail)
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As the Deputy will be aware the Budget 2024 publicationSummary of 2024 Budget Measures- Policy Changes(available on www.budget.gov.ie) includes an estimated full year yield of €152 million in respect of the carbon tax rate increase from €48.50 to €56.00. The Budget 2024 publication Economic and Fiscal Outlook (also available on www.budget.gov.ie) includes projections which incorporate estimated yields in respect of future increases in the carbon tax . As the Deputy will appreciate, these estimates are point in time estimates and will be subject to revision, based on the latest available information, during the budgetary process.
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