TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Carbon Tax Increase Effective 1 May

The 1st of May is a somewhat unusual day for tax increases, however, as announced in Budget 2012, with effect from 1 May 2012, the carbon tax on home heating fuels and natural gas, increased by €5 to €20 per tonne of CO2 emitted on fossil fuels.

Members will recall that the carbon tax increase on petrol and auto diesel saw a 1.4 cent and 1.6 cent price increase at the pumps at midnight on Budget night 7 December 2011. Section 68 Finance Act 2012 at http://www.oireachtas.ie/documents/bills28/acts/2012/a912.pdf legislates for these increases.