Written answers
Wednesday, 23 September 2015
Department of Finance
VAT Rate Reductions
Tommy Broughan (Dublin North East, Independent)
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60. To ask the Minister for Finance the estimated cost to the Exchequer of reducing the VAT rate by 1% and 2%, respectively. [32392/15]
Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, there are a number of VAT rates in operation in Ireland. I am advised by the Revenue Commissioners that information on estimated costs of changes to all of the VAT rates can be found in the pre-Budget 2016 Ready Reckoner on the Revenue Statistics webpage: .
While the Ready Reckoner does not show all of the specific costings requested by the Deputy, other changes can be estimated on a pro-rata basis with those displayed in the Reckoner. For example, the full year cost of reducing the 23% VAT rate by 1% is estimated to be €286 million. Further decreases can be estimated on a straight line basis. The figures for the other VAT Rates are included in the Ready Reckoner.
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