Written answers
Tuesday, 6 December 2011
Department of Communications, Energy and Natural Resources
Departmental Expenditure
7:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 218: To ask the Minister for Communications, Energy and Natural Resources the estimated cost to his Department of a 2% increase in the standard rate of VAT; and if he will make a statement on the matter. [38459/11]
Pat Rabbitte (Dublin South West, Labour)
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As VAT is a tax on expenditure incurred it is not possible to accurately predict the effect of a 2% increase in the standard rate. However, based on my Department's standard rate VAT cost for the last twelve month period, a 2% increase would result in an additional cost of €36,000 per annum.
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