Written answers
Tuesday, 12 February 2013
Department of Finance
VAT Rates
Patrick O'Donovan (Limerick, Fine Gael)
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To ask the Minister for Finance the cost to the Exchequer of reducing the rate of VAT by 2%; and if he will make a statement on the matter. [6879/13]
Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that, assuming the rate of VAT being referred to is the standard rate, the full year cost of reducing the rate from 23% to 21% is estimated at €570m. I have no current plans to reduce VAT rates.
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