asked the Minister for Finance the estimated value for the tax year 1988-1989 of goods which are (1) free from VAT or zero rated (2) the 5 per cent tax rate (3) the 10 per cent tax rate and (4) the 25 per cent tax rate.
Written Answers. - VAT Base.
52.
It is not the practice to supply estimates of the current year's VAT base in disaggregated form.
The total VAT base for the fiscal year 1988 is broadly estimated at £11,000 million. Previous years' experience indicated that the proportions of the total base liable at the different rates could be of the following order:—
|
Rate |
% of total base |
|
Zero rated |
22 |
|
5 per cent |
3 |
|
10 per cent |
26 |
|
25 per cent |
49 |
Note: The value of exports, which do not bear VAT, and the limited number of other goods exempted from VAT is not included in VAT base figures.