Written answers
Wednesday, 7 February 2024
Department of Finance
Tax Code
Paul Donnelly (Dublin West, Sinn Fein)
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114. To ask the Minister for Finance the estimated cost of reducing the VAT rate to 9% for tourism and hospitality sector from 1 March 2024 to 30 November 2024. [5520/24]
Michael McGrath (Cork South Central, Fianna Fail)
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The Deputy should note that VAT operates in two monthly cycles. The estimated cost of reducing the VAT rate to 9% for those sectors that previously had a 9% rate applied is €521million for the period 1 March to 31 October, and €653 million for the period 1 March to 31 December 2024.
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