The remaining
categories will be changed in coming weeks.
TAX
AS PERCENTAGE OF RETAIL PRICE OF SELECT
PRODUCTS FOR IRISH CONSUMERS
28%
of the price of an Irish house is Tax (see bottom of page)
November
2004: The
Minister for Finance Brian Cowen T.D. has provided the following
data on excise duties and other indirect taxes, in answer to
Parliamentary Questions from Richard Bruton T.D.
Details of the proportion of tax in the average retail price of
final
products to consumers, are set out in the following table:
The current excise rate structure for vehicle registration tax i.e. the VRT
for vehicles and motorcycles is as follows:
Private Cars (Category A)
Cars up to 1,400 ccs
22.5% of Open Market Selling Price (OMSP)
Cars 1,401 to 1,900 ccs
25% of OMSP
Cars 1,901 and over
30% of OMSP
Small Vans and some Jeeps (Category B)
13.3% of OMSP
Other Vehicles (Category C)
50
Motor Cycles (new)
2 per cc up to 350 ccs and 1 per cc
thereafter
Motor Cycles (used)
mitigation of VRT provided for by age
Receipts from excise duties, on a revenue net receipts basis, totalled
4,736 million in 2003. The different elements of this tax revenue are as
follows:
m
Beer
455.4
Spirits
305.0
Wine
167.8
Cider
60.4
Tobacco
1,157.2
Light Oils
853.8
Other Oils
842.6
LPG
5.1
VRT
819.4
Other Excise
69.2
Total
4,735.95
Special duties such as betting tax, liquor licence fees and
firearm certificate fees, are included in the Other
Excise category.
Breakdown
of Price of Pint of Stout 1997-2003
Source:
Irish Brewers Association
Europe
Excise Duties & Comparative Irish Taxation
Receipts
HL-Hectolitre: 100
liters ECU-Euros
Source:
Irish Brewers Association
The Minister for
Finance has said that the most recent price comparisons between the Republic and
Northern Ireland that have been carried out by
the Revenue Commissioners, relate to June 2004. These provide a snapshot of the
average retail prices of the main excisable commodities observed in the Dublin
and Newry areas on 29 June 2004.
The tables following provide a breakdown of the
prices and tax on these commodities on that date. With respect to vehicles that
are subject to Vehicle Registration Tax (VRT), in the State, comparisons cannot
be made with Northern Ireland as VRT is not imposed in that jurisdiction.
DRINK
Price
Diff
Excise
Duty
Diff
VAT
Diff
Total Tax
Diff
Ex -Tax Price
Diff
Tax as % of Price
Beer
Budweiser (can)
Irl
1.71
0.05
0.50
0.03
0.30
0.05
0.79
0.08
0.92
−0.02
46.4
5% alc 50 cl
N. Irl
1.66
0.47
0.25
0.72
0.94
43.2
Guinness (can)
Irl
1.76
0.12
0.42
0.02
0.31
0.06
0.72
0.08
1.04
0.04
41.1
4.2% alc 50 cl
N. Irl
1.64
0.39
0.24
0.64
1.00
38.9
Miller (bottle)
Irl
1.80
0.64
0.31
0.02
0.31
0.14
0.62
0.16
1.18
0.48
34.5
4.75 alc 33 cl
N. Irl
1.16
0.29
0.17
0.46
0.70
39.9
Spirits
Whiskey
Irl
24.28
3.91
10.99
2.82
4.21
1.18
15.20
4.00
9.08
−0.09
62.6
40% alc 70 cl
N. Irl
20.37
8.17
3.03
11.20
9.17
55.0
Vodka
Irl
20.89
5.24
10.30
2.65
3.63
1.30
13.93
3.94
6.96
1.30
66.7
37.5% alc 70 cl
N. Irl
15.65
7.66
2.33
9.99
5.66
63.8
Wines
Jacobs Creek
Irl
8.95
0.76
2.05
0.22
1.55
0.33
3.60
0.55
5.35
0.21
40.2
<15% alc 75 cl
N. Irl
8.19
1.83
1.22
3.05
5.14
37.2
E + J Gallo
Irl
7.95
0.51
2.05
0.22
1.38
0.27
3.43
0.49
4.52
0.02
43.1
<15% alc 75 cl
N. Irl
7.44
1.83
1.11
2.94
4.51
39.5
Sparkling Wine
Irl
12.95
2.52
4.10
1.63
2.25
0.69
6.34
2.32
6.61
0.20
49.0
<15% alc _ 75 cl
N. Irl
10.43
2.47
1.55
4.02
6.41
38.6
28% of the
price of a house is Tax
The Minister for
Finance Brian Cowen said in a reply to a parliamentary question that more
than quarter of the price of a new house goes to the Government in the
form of tax. Mr. Cowen told Paul McGrath, TD. that 28%
of the price was accounted for by VAT and stamp duty.
"This means that
for a 300,000 house, 84,000 of the price is
tax," Mr McGrath
said. "The share of total Exchequer finances deriving from the new
home market has increased from 3% to 9% in the last seven years. This is
totally irresponsible and morally wrong," Mr McGrath added.
Budget figures
published on November 26, 2004, show that Government expects to collect over 2bn
in stamp duty this year, most of it from house purchases, and is
anticipating a 4.5% rise in stamp revenues next year.
