Results 7,861-7,880 of 12,593 for speaker:Willie O'Dea
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: He referred to them in the context of VAT rates.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: Deputies asked the reason the VAT reduction will not kick in until 1 January 2010 given that last year's increase took effect on 1 December. I am informed that last year's increase was announced in the October budget to kick in on 1 December. Therefore, there was a fair gap between the announcement and the actual implementation.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: It takes some time for people to get their affairs in order and their systems in place, etc.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: In any case the retail sector will need it a good deal more in January than now.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: I refer to another question raised.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: We gave five or six weeks' notice. In this case people will only get three weeks notice which is not unreasonable.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: I refer to the question of why the VAT rate was increased last year.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: It was done as a revenue raising measure. If one examined the cost of decreasing it, even by a half a percent, it would be â¬140 million in 2010 and â¬167 million in a full year.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: Although Fine Gael maintain it does not believe in any taxes-----
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: -----and that every tax should be reduced, it promised a budget to find â¬2,300 million but only came up with â¬15 million.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: It has only â¬2,885 million to go.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: I have read it, my God have I read it.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: I refer to the lower rate of VAT. I understood in parliamentary debate-----
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: -----Members spoke uninterrupted from other side and Members were supposed to be able to reply from this side also without interruption.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: He does not have any interest.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: I refer to the proposed reduction from 13.5% to 10%. It would have cost â¬880 million. That would have been the revenue lost.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: Some â¬880 million of a temporary nature for how long? For one year.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: That represents â¬880 million in one year.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: Some â¬880 million is the official figure. That is what the Fine Gael amendment would have cost the State.
- Financial Resolution No. 3: Value-Added Tax (9 Dec 2009)
Willie O'Dea: Admittedly, as Deputy Varadkar and others have stated, there are some labour intensive activities to which the 13.5% rate applies but there are other activities.