Joan Collins (Dublin South Central, Independents 4 Change)
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80. To ask the Minister for Finance if he will address a matter regarding the rate of VAT (details supplied); and if he will make a statement on the matter. [4763/20]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised that information regarding the potential impact of possible rate changes on VAT receipts is available in Revenue’s Ready Reckoner at link:

.

Increases or decreases in excess of the listed 1% change can be extrapolated on a straight-line basis.

Please note that the Ready Reckoner does not account for COVID-19.

Under the EU VAT Directive, with which Irish VAT law must comply, the lowest standard rate that can apply is 15%. In addition, further restrictions apply to the application of reduced rates; for example, while lower rates are permissible for some goods, the minimum rate that may be applied to certain goods and services cannot be less than 12%.