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You are here:  Budget 2010 Other Measures |
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| Other Measures |
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Carbon Tax
The Minister introduced a carbon tax equivalent to €15 per tonne. The tax applies to petrol and diesel from midnight 9 December 2009. The tax will also apply to home heating oils and gas with effect from May 2010. The application of the tax to coal and commercial peat will be subject to a Commencement Order.
Based on studies carried out by the ESRI, the overall direct impact on households will be between €2 and €3 per week.
Accounting and payment of the carbon tax in respect of transport fuels will be required to be made by the 15th day of the following month.
Further details of this measure will be included in the Finance Bill. |
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Scrappage Scheme
A scrappage scheme has been introduced which will run from 1 January 2010 to 31 December 2010 whereby VRT relief of up to €1,500 will be available. The relief will be available where a car with CO2 emissions of 140g/km or less is purchased and the car being scrapped is ten years old or more.
Further details will be posted on the Revenue Commissioners website in the coming days. |
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Energy Efficiency of Cars
The VRT exemption for electric vehicles and the VRT reliefs of up to €2,500 for plug-in hybrid electric vehicles are being extended by two years until 31 December 2012. The Minister also indicated that support will be provided to offset the initial battery costs for such cars. |
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Excise Duty
The Minister has announced the following reductions in excise on alcohol products as follows:
- 12 cent reduction on a pint of beer and cider.
- 14 cent reduction on a half glass of spirits.
- 60 cent reduction on a bottle of wine.
These changes, which are VAT inclusive, are effective from midnight 09 December 2009.
No changes are being made to the rate of excise on tobacco products. |
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| The above is intended as a general guide to the measures announced in Budget 2010. All changes announced are subject to being enacted in the forthcoming Finance Bill. It is possible that the measures described above may be modified prior to enactment. No action should be taken on the basis of the above without obtaining professional taxation advice. |
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Purcell McQuillan Tax Partners Limited, 17 Clyde Road, Dublin 4
T: (01) 668 2700 F: (01) 668 2750 E: pmq@pmqtax.com W: www.pmqtax.com |
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