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Ireland To Use New Marker For Lower Duty Fuels

by Jason Gorringe, Tax-News.com, London

22 December 2014


Ireland and the UK have identified a new product to mark rebated fuels, which will be implemented in Ireland from midnight on March 31, 2015.

The marker, Accutrace S10, was identified following a joint process by the Irish Revenue and HM Revenue and Customs (HMRC).

The Irish Revenue has announced that a transitional period will operate between January 1, 2015, and March 31, 2015. During this period, kerosene and gas oil may be marked with the new marker. From midnight on March 31, 2015, all kerosene and gas oil to which a reduced rate of mineral oil tax is being applied must be marked in accordance with the Mineral Oil Regulations 2002. The regulations will be amended to provide for the additional fiscal marker.

All kerosene and gas oil will be required to include the necessary proportions of Accutrace S10, in order to qualify for the reduced rates of mineral oil tax. The new marker will be required in addition to the existing mineral oil markers. The Irish Revenue expects that the marker will be supplied as part of a composite mix, which will include the current markers.

TAGS: compliance | tax | marine | tax compliance | Ireland | revenue guidance | United Kingdom | tax rates | HM Revenue and Customs (HMRC) | tax reform | regulation | HM Revenue and Customs (HMRC)

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