Michael Colreavy (Sligo-North Leitrim, Sinn Fein)
Link to this: Individually | In context

Question 49: To ask the Minister for Finance if he intends to increase the top rate of VAT as indicated in the programme for Government commitment to limit the top rate of VAT to 23%. [18608/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

The EU/IMF Programme provides for a 1% increase in the standard VAT rate to 22% with effect from January 2013, and a further 1% increase in the standard VAT rate to 23% with effect from January 2014. The Programme for Government continues this VAT policy by limiting the top rate of VAT to 23%, but does not specify the timeframe for this increase. The level and timeframe of any increases in the standard VAT rate will be determined in the context of the annual Budget cycle.