Minister of Finance, Paschal Donohoe, delivered his 3rd budget today, 8th October.
VAT and Excise
- The rate of stamp duty on non-residential property is increasing from 6% to 7.5% effective from 9th October 2019.
- The carbon tax is increasing from €20 to €26 per tonne. This will take effect for vehicle fuel from 9th October 2019 and for all other fuel from May 2020.
- Relief from betting duty and betting intermediary duty is being introduced up to a limit of €50,000 per calendar year which only applies to single undertakings.
- Excise on cigarettes is to increase by 50 cents per packet of 20, effective from 9th October 2019, bringing the typical price to €13.50.
- The Bank Levy is increasing from 59% of DIRT to 170% effective from 9th October 2019.
- The VRT 1% diesel surcharge is to be replaced with a NOx surcharge for new petrol and diesel cars. This will apply to all passenger cars registered for the first time from 1st January 2020.
A PDF version of the Republic of Ireland Budget 2020 - Summary of Facts is available to download.
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