New vape tax delivering less than half of ‘conservative’ Government projections
Ireland's new vape tax is generating significantly less revenue than initially projected by the Department of Finance.Summary
New data reveals that the tax on vaping products in Ireland is delivering less than half of the Department of Finance’s “conservative” projections. Introduced in November, the €500 per litre tax on e-liquids has so far yielded only €1.3 million in its first two months, falling short of the €2.83 million expected for each bimonthly period to reach the full-year estimate of €17 million. The Tax Strategy Group acknowledged the difficulty in accurately estimating the size of the e-cigarette market and intentionally set a lower projection to avoid overestimation. Responsible Vaping Ireland suggests that many businesses may not be filing returns and advocates for the implementation of tax stamps and a crackdown on the black market to improve compliance and enforcement.
(Source：The Irish Times)
