Dáil Éireann Debate, Tuesday - 6 December 2011
133 Deputy Michael McGrath asked the Minister for Jobs, Enterprise and Innovation the estimated cost to his Department of a 2% increase in the standard rate of VAT; and if he will make a statement on the matter. [38466/11]
View answerTo the end of November 2011, my Department has incurred VAT of approximately €798,500 at the standard rate of 21% on goods and services delivered in the year to date to the approximate value of €3,802,600.
Based on an a similar level of expenditure in 2012, a 2% increase in the standard rate of VAT, would see my Department incurring an estimated extra cost of €80,000 in the coming year.
