Oireachtas Joint and Select Committees
Thursday, 9 May 2013
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 11: VAT on Intra-Community Trade
12:10 pm
Ms Josephine Feehily:
That is for the first two years only. After that it is reduced to 1%, which is our normal administrative cost for a tax yield. Our costs vary upwards or downwards by fractions of the 1% tax yield. Even when buoyancy went out, because of the head count reduction we still came in with an administrative cost of approximately 1%. After the first two years, the funding will stabilise at the rate of the funding available to us for all of the other taxes.
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