I move:
(1)THAT in this Resolution–
"the Principal Act" means the Value-Added Tax Act, 1972 (No. 22 of 1972);
"the Act of 1999" means the Finance Act, 1999 (No. 2 of 1999).
(2)THAT the rate of value-added tax on the supply of livestock and live greyhounds and the hire of horses be increased from 4 per cent. to 4.2 per cent. of the amount on which tax is chargeable in relation to the supply of such goods and services, and that, accordingly, subsection (1) (substituted by the Finance Act, 1992 (No. 9 of 1992)) of section 11 of the Principal Act be amended by the substitution in paragraph (f) of "4.2 per cent." for "4 per cent." (inserted by the Act of 1999).
(3)THAT the rate of flat-rate addition to the consideration in respect of the supply of agricultural produce or an agricultural service by a flat-rate farmer be increased from 4 per cent. to 4.2 per cent., and that, accordingly, section 12A (inserted by the Value-Added Tax (Amendment) Act, 1978 (No. 34 of 1978)) of the Principal Act be amended by the substitution in subsection (1) of "4.2 per cent." for "4 per cent." (inserted by the Act of 1999).
(4)THAT this Resolution shall have effect as on and from the 1st day of March, 2000.
(5)IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
This resolution provides for an increase from 4 per cent to 4.2 per cent in the level of the flat rate farmers refund together with a similar change in the VAT rate on livestock, live greyhounds and the hire of horses. The increase will come into effect on 1 March 2000. The change will cost £3.56 million in 2000 and £5.34 million in a full year.