Ireland Drops VAT To Give Boost To Economy - AAD Consumer Forum

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5corpio started a blog post Ireland Drops VAT To Give Boost To Economy
4 July 2011, 09:08

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Ireland Drops VAT To Give Boost To Economy

Ireland Drops VAT To Give Boost To Economy

Originally posted by 5corpio

Ireland is temporarily dropping VAT for a range of services including restaurants and hairdressers in a bid to revive its economy. The Irish government is slashing VAT from 13.5% to 9% for a range of services connected to the hospitality and tourism sectors.

The new lower rate comes into effect from July 1 and will stay in place until December 2012, when it comes up for review. It will not mean more money for the restaurant owners, but will mean slightly lower prices. The government hopes it will encourage more customers to spend their cash.

Declan O'Luanaigh tax partner at Dublin member firm Orsmby and Rhodes said: "The reduction in VAT being introduced by the Irish government in an effort to create new jobs is ...Read more HERE
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