Written answers
Wednesday, 26 July 2017
Department of Finance
VAT Rate Increases
Tommy Broughan (Dublin Bay North, Independent)
Link to this: Individually | In context | Oireachtas source
205. To ask the Minister for Finance the impact on budget 2018 if the 9% VAT rate for the hospitality industry were increased to 10%, 11%, 12% and 13.5%; the estimated additional yield at each rate; and if he will make a statement on the matter. [36451/17]
Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source
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 2018 Ready Reckoner on the Revenue Statistics webpage:
The Revenue Reckoner details that the full-year cost of increasing the 9% VAT rate by 1% is estimated to be €109 million. Further increases can be estimated on a straight line basis assuming nothing else changes.
No comments