08 October, 2019 in Industry News

Republic of Ireland Budget 2020 - VAT and Excise

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.

Back to Summary of Republic of Ireland Budget 2020.

A PDF version of the Republic of Ireland Budget 2020 - Summary of Facts is available to download.

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