DÁIL QUESTION NO 127
To ask the Minister for Finance further to Parliamentary Question No. 159 of 27 May 2008 the breakdown of moneys accrued by the Exchequer for each month respectively in 2007 and to date in 2008 by way of excise duty, VAT and other such payments through the sale of respective petroleum products including home heating oil, petrol, diesels and so on; and if he will make a statement on the matter. – David Stanton.
For ORAL answer on Wednesday, 4th June, 2008.
Ref No: 21947/08
REPLY
Minister for Finance ( Mr Lenihan) :
I am informed by the Revenue Commissioners that the amounts of tax revenue collected from Mineral Oil Tax on petroleum products for each month respectively in 2007 and the first four months of 2008 are set out in the attached Appendix A and Appendix B.
VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified and therefore the VAT yield in each month on petroleum products cannot be provided. The figures provided in this reply for monthly VAT receipts are estimates of the amount of VAT yield that would be generated by the volume of clearances of oil products up to the end of each month. Mineral Oil Tax is paid in the month of clearance of the product but, depending on the nature of the registration status of a trader, VAT returns can be made monthly, bi-monthly, quarterly, half yearly or annually. This will dictate the point in time when VAT on sales will actually be paid to Revenue.
It should also be noted that the VAT content of purchases of Auto Diesel, Marked Gas Oil, Kerosene and Fuel Oil is a deductible credit for business in the Irish VAT system. There are no VAT receipts for Heavy Fuel Oil, as this type of residual oil is used only by registered traders and any VAT paid is reclaimed.
The yield from excise, as excise is set at a nominal amount, does not increase as the price of fuels increase. On the other hand, the yield from VAT, as VAT is set as a percentage of the price, increases as the price of fuels increase. However, in this regard it should be borne in mind that to the extent that spending in the economy is re-allocated to petrol and other oil products, and away from other VAT liable spending, and to the extent that the overall level of economic activity is reduced by higher oil prices, there may be little or no net gain to the Exchequer.
Appendix A.
Mineral Oil Tax
Petrol
Diesel
Fuel Oil
MGO
Auto LPG
2007
2007
2007
2007
2007
Prov
Prov
Prov
Prov
Prov
€m
€m
€m
€m
€m
Jan
122.5
111.3
0.8
8.1
0.006
Feb
80.6
85.5
0.8
6.4
0.005
Mar
88.5
91.3
0.6
6.6
0.006
Apr
86.4
87.8
0.9
5.5
0.003
May
93.4
96.4
0.9
5.7
0.008
Jun
88.4
90.7
0.8
5.6
0.003
Jul
87.7
89.9
0.6
4.9
0.006
Aug
94.6
93.1
0.6
5.7
0.006
Sep
84.0
88.1
0.7
5.7
0.007
Oct
94.4
98.2
0.8
5.5
0.004
Nov
85.8
93.1
0.5
6.2
0.006
Dec
45.0
50.4
0.4
2.5
0.005
Total
1,051.3
1,075.8
8.4
68.4
0.07
2008
2008
2008
2008
2008
Prov
Prov
Prov
Prov
Prov
€m
€m
€m
€m
€m
Jan
123.2
113.7
0.6
7.2
0.004
Feb
83.2
91.0
0.5
6.4
0.005
Mar
84.9
88.3
0.5
5.6
0.005
Apr
91.1
99.6
0.6
7.0
0.003
Total
382.4
392.6
2.3
26.2
0.02
Appendix B
Estimated VAT Receipts.
Petrol
Diesel
Kerosene
MGO
Auto LPG
2007
2007
2007
2007
2007
Estd
Estd
Estd
Estd
Estd
€m
€m
€m
€m
€m
Jan
54.2
5.9
14.3
8.3
0.009
Feb
35.6
4.5
10.0
6.5
0.007
Mar
39.2
4.8
8.8
6.8
0.009
Apr
38.2
4.7
3.8
5.6
0.005
May
41.3
5.1
3.4
5.8
0.012
Jun
39.1
4.8
2.5
5.7
0.005
Jul
38.8
4.8
2.9
5.0
0.009
Aug
41.8
4.9
3.1
5.8
0.010
Sep
37.2
4.7
6.1
5.8
0.010
Oct
41.8
5.2
8.7
5.6
0.006
Nov
38.0
4.9
8.5
6.3
0.010
Dec
19.9
2.7
4.8
2.6
0.008
Total
465.0
57.0
77.0
70.0
0.10
2008
2008
2008
2008
2008
Estd
Estd
Estd
Estd
Estd
€m
€m
€m
€m
€m
Jan
57.3
6.7
15.2
8.7
0.007
Feb
38.1
5.2
11.3
7.2
0.009
Mar
39.6
5.1
10.8
6.7
0.011
Apr
42.0
6.0
8.7
8.4
0.007
Total
177.0
23.0
46.0
31.0
0.03
DÁIL QUESTION NO 159
To ask the Minister for Finance the amount accrued to the Exchequer each month for the past 12 months by way of excise duty, VAT and other such payments through the sale of respective petroleum products to include home heating oil, petrol and diesels; and if he will make a statement on the matter.- David Stanton.* For WRITTEN answer on Tuesday, 27th May, 2008.
Ref No: 20563/08
REPLY
Minister for Finance ( Mr Lenihan) :
I am informed by the Revenue Commissioners that the amounts of tax revenue collected from Mineral Oil Tax and VAT on petroleum products for the annual year 2007 and the first four months of 2008 are as follows:
2007
2008
Mineral Oil Tax
(Jan to Dec)
(Jan to Apr)
Prov
€m
€m
Petrol
1,051
382
Auto Diesel
1,076
393
Fuel Oil
8
2
Marked Gas Oil
68
26
Auto LPG
0.07
0.02
Total
2,204
803
To ask the Minister for Finance further to Parliamentary Question No. 159 of 27 May 2008 the breakdown of moneys accrued by the Exchequer for each month respectively in 2007 and to date in 2008 by way of excise duty, VAT and other such payments through the sale of respective petroleum products including home heating oil, petrol, diesels and so on; and if he will make a statement on the matter. – David Stanton.
For ORAL answer on Wednesday, 4th June, 2008.
Ref No: 21947/08
REPLY
Minister for Finance ( Mr Lenihan) :I am informed by the Revenue Commissioners that the amounts of tax revenue collected from Mineral Oil Tax on petroleum products for each month respectively in 2007 and the first four months of 2008 are set out in the attached Appendix A and Appendix B.
VAT returns do not require the yield from a particular sector or sub-sector of trade to be identified and therefore the VAT yield in each month on petroleum products cannot be provided. The figures provided in this reply for monthly VAT receipts are estimates of the amount of VAT yield that would be generated by the volume of clearances of oil products up to the end of each month. Mineral Oil Tax is paid in the month of clearance of the product but, depending on the nature of the registration status of a trader, VAT returns can be made monthly, bi-monthly, quarterly, half yearly or annually. This will dictate the point in time when VAT on sales will actually be paid to Revenue.
It should also be noted that the VAT content of purchases of Auto Diesel, Marked Gas Oil, Kerosene and Fuel Oil is a deductible credit for business in the Irish VAT system. There are no VAT receipts for Heavy Fuel Oil, as this type of residual oil is used only by registered traders and any VAT paid is reclaimed.
The yield from excise, as excise is set at a nominal amount, does not increase as the price of fuels increase. On the other hand, the yield from VAT, as VAT is set as a percentage of the price, increases as the price of fuels increase. However, in this regard it should be borne in mind that to the extent that spending in the economy is re-allocated to petrol and other oil products, and away from other VAT liable spending, and to the extent that the overall level of economic activity is reduced by higher oil prices, there may be little or no net gain to the Exchequer.
Appendix A.
Mineral Oil Tax
|
Petrol |
Diesel |
Fuel Oil |
MGO |
Auto LPG | |
|
|
2007 |
2007 |
2007 |
2007 |
2007 |
|
|
Prov |
Prov |
Prov |
Prov |
Prov |
|
€m |
€m |
€m |
€m |
€m | |
| Jan |
122.5 |
111.3 |
0.8 |
8.1 |
0.006 |
| Feb |
80.6 |
85.5 |
0.8 |
6.4 |
0.005 |
| Mar |
88.5 |
91.3 |
0.6 |
6.6 |
0.006 |
| Apr |
86.4 |
87.8 |
0.9 |
5.5 |
0.003 |
| May |
93.4 |
96.4 |
0.9 |
5.7 |
0.008 |
| Jun |
88.4 |
90.7 |
0.8 |
5.6 |
0.003 |
| Jul |
87.7 |
89.9 |
0.6 |
4.9 |
0.006 |
| Aug |
94.6 |
93.1 |
0.6 |
5.7 |
0.006 |
| Sep |
84.0 |
88.1 |
0.7 |
5.7 |
0.007 |
| Oct |
94.4 |
98.2 |
0.8 |
5.5 |
0.004 |
| Nov |
85.8 |
93.1 |
0.5 |
6.2 |
0.006 |
| Dec |
45.0 |
50.4 |
0.4 |
2.5 |
0.005 |
| Total |
1,051.3 |
1,075.8 | 8.4 | 68.4 | 0.07 |
|
2008 |
2008 |
2008 |
2008 |
2008 | |
|
Prov |
Prov |
Prov |
Prov |
Prov | |
|
€m |
€m |
€m |
€m |
€m | |
| Jan |
123.2 |
113.7 | 0.6 | 7.2 | 0.004 |
| Feb | 83.2 | 91.0 | 0.5 | 6.4 | 0.005 |
| Mar | 84.9 | 88.3 | 0.5 | 5.6 | 0.005 |
| Apr | 91.1 | 99.6 | 0.6 | 7.0 | 0.003 |
| Total |
382.4 |
392.6 | 2.3 | 26.2 | 0.02 |
|
Petrol |
Diesel |
Kerosene |
MGO |
Auto LPG | |
|
|
2007 |
2007 |
2007 |
2007 |
2007 |
|
|
Estd |
Estd |
Estd |
Estd |
Estd |
|
€m |
€m |
€m |
€m |
€m | |
| Jan | 54.2 | 5.9 | 14.3 | 8.3 | 0.009 |
| Feb | 35.6 | 4.5 | 10.0 | 6.5 | 0.007 |
| Mar | 39.2 | 4.8 | 8.8 | 6.8 | 0.009 |
| Apr | 38.2 | 4.7 | 3.8 | 5.6 | 0.005 |
| May | 41.3 | 5.1 | 3.4 | 5.8 | 0.012 |
| Jun | 39.1 | 4.8 | 2.5 | 5.7 | 0.005 |
| Jul | 38.8 | 4.8 | 2.9 | 5.0 | 0.009 |
| Aug | 41.8 | 4.9 | 3.1 | 5.8 | 0.010 |
| Sep | 37.2 | 4.7 | 6.1 | 5.8 | 0.010 |
| Oct | 41.8 | 5.2 | 8.7 | 5.6 | 0.006 |
| Nov | 38.0 | 4.9 | 8.5 | 6.3 | 0.010 |
| Dec | 19.9 | 2.7 | 4.8 | 2.6 | 0.008 |
| Total | 465.0 | 57.0 | 77.0 | 70.0 | 0.10 |
|
2008 |
2008 |
2008 |
2008 |
2008 | |
|
Estd |
Estd |
Estd |
Estd |
Estd | |
|
€m |
€m |
€m |
€m |
€m | |
| Jan |
57.3 |
6.7 |
15.2 |
8.7 |
0.007 |
| Feb |
38.1 |
5.2 |
11.3 |
7.2 |
0.009 |
| Mar |
39.6 |
5.1 |
10.8 |
6.7 |
0.011 |
| Apr |
42.0 |
6.0 |
8.7 |
8.4 |
0.007 |
| Total |
177.0 |
23.0 |
46.0 |
31.0 |
0.03 |
DÁIL QUESTION NO 159
Ref No: 20563/08
REPLY
Minister for Finance ( Mr Lenihan) :I am informed by the Revenue Commissioners that the amounts of tax revenue collected from Mineral Oil Tax and VAT on petroleum products for the annual year 2007 and the first four months of 2008 are as follows:
2007
(Jan to Dec)
€m
1,051
1,076
8
68
0.07
2,204
|
2007
|
2008 | |
| Estimated VAT Yield |
(Jan to Dec)
|
(Jan to Apr) |
|
Est.
|
Est. | |
|
€m
|
€m | |
| Petrol |
465
|
177 |
| Auto Diesel |
57
|
23 |
| Marked Gas Oil |
70
|
31 |
| Kerosene |
77
|
46 |
| Auto LPG |
0.1
|
0.03 |
| Total |
669
|
277 |
Note:
The VAT yield from petroleum products is estimated as the information to be furnished on VAT returns does not require the yield from particular sectors of trade to be identified. 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.
DÁIL QUESTION NO 25, For ORAL answer on Tuesday, 26th February, 2008.
To ask the Tánaiste and Minister for Finance if he has considered or will consider allowing tax relief to businesses that have experienced losses due to works carried out by local authorities or the National Roads Authority; and if he will make a statement on the matter. – David Stanton.
REPLY
Tánaiste and Minister for Finance ( Mr Cowen ) :
The premise on which this question is based appears to be that businesses should receive specific compensation through the tax system for the loss of business which they consider they have experienced or will experience as a result of works carried out by local authorities and others. I do not consider the tax system to be the appropriate mechanism through which to deal with matters of this kind.
In the normal way, the tax system already provides relief to companies and businesses, generally, in relation to losses suffered by them in the course of their trade. Trading losses can be set off against profits in the same accounting period. Such losses can also be set off against profits of the preceding accounting period, if the company or business carried on the trade in that period. Finally, trading losses can be set off against future profits of the same trade, unless the losses have been otherwise utilised.
