Written answers
Tuesday, 23 July 2024
Department of Finance
Tax Collection
Pearse Doherty (Donegal, Sinn Fein)
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423.To ask the Minister for Finance the revenue raised in the years 2025, 2026, 2027, 2028 and 2029 by introducing a luxury vehicle tax applied at a rate of 10% on the importation or sale of vehicles of a value in excess of €65,000, excluding HGVs, ambulances, hearses, motor vehicle clearly marked for policing activities, motor vehicle clearly marked and equipped for emergency medical or fire response activities or recreational vehicles designed or adapted to provide temporary residential accommodations. [33315/24]
Pearse Doherty (Donegal, Sinn Fein)
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424.To ask the Minister for Finance the revenue raised in the years 2025, 2026, 2027, 2028 and 2029 by introducing a luxury vehicle tax applied at a rate of 10% on the importation or sale of vehicles of a value in excess of €85,000, excluding HGVs, ambulances, hearses, motor vehicle clearly marked for policing activities, motor vehicle clearly marked and equipped for emergency medical or fire response activities or recreational vehicles designed or adapted to provide temporary residential accommodations. [33316/24]
Pearse Doherty (Donegal, Sinn Fein)
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425.To ask the Minister for Finance the revenue raised in the years 2025, 2026, 2027, 2028 and 2029 by introducing a luxury vehicle tax applied at a rate of 10 per cent on the importation or sale of vehicles of a value in excess of €100,000, excluding HGVs, ambulances, hearses, motor vehicle clearly marked for policing activities, motor vehicle clearly marked and equipped for emergency medical or fire response activities or recreational vehicles designed or adapted to provide temporary residential accommodations. [33323/24]
Jack Chambers (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 423, 424 and 425 together.
I am advised by Revenue that the full year yield from the proposals to introduce a ten per cent luxury vehicle tax on the importation or sale of vehicles with values in excess of €65,000, €85,000 and €100,000 is tentatively estimated in the following table.
Proposal | Estimated full year yield |
---|---|
Value in excess of €65,000 | €110m |
Value in excess of €85,000 | €56m |
Value in excess of €100,000 | €36m |
They are based on the most recent 12 months of Revenue registrations data (July 2023 to June 2024) and assume no behavioural change. The estimates are inclusive of Category A and B vehicles only. The vehicle types specified have been excluded where possible. Category M and all other Category C vehicles have been excluded, as Revenue systems do not hold the necessary price data.
I am further advised that Revenue cannot provide estimates for later years due to the unknown nature of the future tax base and future economic behaviour.
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