Dáil Éireann Debate, Friday - 6 September 2019
79. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of increasing by €100,000, €500,000, €1 million and €2 million, respectively, the threshold at which businesses must use the invoice system as opposed to cash receipts system for VAT; and if he will make a statement on the matter. [34985/19]
View answerI am advised by Revenue that the estimated temporary cash flow impact on Exchequer receipts, of increasing the threshold at which businesses must use the invoice system as opposed to cash receipts system for VAT by €100,000, €500,000, €1 million and €2 million is provided in the following table.
|
Increase |
New Threshold |
Cost (€million) |
|
€100K |
€2.1m |
€10m |
|
€500K |
€2.5m |
€45m |
|
€1 Million |
€3.0 m |
€92m |
|
€2 Million |
€4.0 m |
€166m |
