Jim O'Keeffe
Question:36 Mr. J. O'Keeffe asked the Minister for Finance the present cost of reversing the 1979 decision to introduce VAT at point of entry.
Written Answers. - Cost of Changing VAT Decision.
VAT at point of entry was introduced on 1 September 1982. As of 1 January 1992 abolition of the regime in its entirety would give rise to an estimated cash flow loss of £250 million. If the charge was abolished on intra-Community trade only, the estimated cash flow loss would be £200 million.