Next year's budget forsees 14 percent increase in fuel excise duty inflows
According to the state budget explanatory memorandum, the government forecasts that the inflow of the fuel excise duty will increase by 14.1 percent next year, compared with 2020.
The government is also expecting the inflow of alcohol excise duty to increase by 0.5 percent in 2021, as per the state budget bill agreed earlier in the week, though gambling tax receipts are forecast to rise by as much as 11.3 percent.
The government is predicting the rise due to a low comparison base, derived from surplus stocks at the beginning of the year, and low fuel sales in the second quarter, due to the coronavirus emergency situation restrictions.
The state expects to receive excise duty of €155.7 million on petrol next year, €295.4 million on diesel fuel, €8.7 million on specially-labeled fuels, €16.5 million on natural gas used for heat production, and €8.7 million on other fuels.
The state also expects to receive €59.9 million in excise duty on beer next year, €27.2 million on wine, €12.8 million on other fermented drinks, €1.6 million on intermediate products and €126.7 million on spirits.
Inflows of tobacco excise duty should rise by 2.3 percent to €225 million. In January 2021, the excise duty on cigarettes will be increased by 5 percent, and the excise duty on smoking tobacco by 8 percent.
Gambling tax receipts are forecast at €30.5 million, which is 11.3 percent more than this year.
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Editor: Roberta Vaino, Andrew Whyte