asked the Minister for Finance whether he will consider reviewing the present VAT rate on publications because of their informational and educational nature; if he is aware that there are a number of smaller publications and magazines, among others, who feel that their existence is now threatened because of the heavy VAT bills they have to pay on top of the normal income tax and other demands which fall upon them; and if he will make a statement on the matter.
Ceisteanna — Questions. Oral Answers. - VAT Rate on Publications.
11.
I presume that in speaking of the VAT rate on publications, the Deputy is referring to magazines and periodicals and not newspapers which already attract a low rate of VAT. I am aware of the case that has been made by interests in the magazine industry for a reduction in the 25 per cent VAT rate which applies to their products and I have already informed them that I will keep the position under review. I will not be reducing the rate at this time, however. I should say, of course, that in being required to account for VAT at the rate of 25 per cent the publishers of the magazines which the Deputy has in mind are in no worse position than the many other concerns whose products also attract VAT at the standard rate.