Written answers
Tuesday, 10 February 2009
Department of Finance
Tax Code
9:00 pm
Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context
Question 206: To ask the Minister for Finance the cost to the Exchequer if there was a 1% reduction on the standard rate of VAT. [4332/09]
Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context
Question 207: To ask the Minister for Finance the cost to the Exchequer if there was a 2% reduction on the standard rate of VAT. [4333/09]
Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context
Question 208: To ask the Minister for Finance the cost to the Exchequer if there was a 3% reduction on the standard rate of VAT. [4334/09]
Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context
Question 209: To ask the Minister for Finance the cost to the Exchequer if there was a 4% reduction on the standard rate of VAT. [4335/09]
Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context
Question 210: To ask the Minister for Finance the cost to the Exchequer if there was a 5% reduction on the standard rate of VAT. [4336/09]
Arthur Morgan (Louth, Sinn Fein)
Link to this: Individually | In context
Question 211: To ask the Minister for Finance the cost to the Exchequer if there was a 6% reduction on the standard rate of VAT. [4337/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context
I propose to take Questions Nos. 206 to 211, inclusive, together.
I am informed by the Revenue Commissioners that the estimated full year cost to the Exchequer of a reduction in the standard rate of Value Added Tax by 1%, 2%, 3%, 4%, 5% and 6% is as follows.
Estimated cost to the Exchequer of reductions in Standard rate of VAT | |||
Existing Rate | Reduction | New Rate | Cost |
% | % | % | â'¬m |
21.5 | 1.0 | 20.5 | 390 |
21.5 | 2.0 | 19.5 | 780 |
21.5 | 3.0 | 18.5 | 1,170 |
21.5 | 4.0 | 17.5 | 1,560 |
21.5 | 5.0 | 16.5 | 1,950 |
21.5 | 6.0 | 15.5 | 2,340 |
The estimates provided are based on current expectations of VAT yield in 2009.
No comments