Written answers
Tuesday, 24 January 2012
Department of Finance
Tax Code
9:00 pm
Terence Flanagan (Dublin North East, Fine Gael)
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Question 144: To ask the Minister for Finance his views on a matter regarding the 2% VAT rise; and if he will make a statement on the matter. [3640/12]
Michael Noonan (Limerick City, Fine Gael)
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I would point our that domestic fuels, such as electricity, gas and home heating oil, are subject to VAT at the 13.5% rate, in accordance with paragraph 17 of Schedule 3 to the VAT Consolidation Act 2010. In particular, the 13.5% reduced VAT rate applies to home heating oil under paragraph 17(4) of Schedule 3. In this regard, while the recent Budget increased the standard VAT rate from 21% to 23%, there was no change to the 13.5% reduced VAT rate and as such the Budget change had no impact on the VAT charged on home heating oil.
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