Dáil Éireann Debate, Tuesday - 16 June 2020
54. Deputy Cormac Devlin asked the Minister for Finance the estimated cost of increasing by €250,000 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. [10515/20]
View answerIncreasing the allowable threshold for accounting for VAT on a monies received basis would generate a once-off cash-flow cost to the Exchequer.
I am advised by Revenue that, based on 2019 VAT returns, increasing the threshold from €2.0m to €2.25m could have a cash-flow cost in the region of €27m in the year in which the change is made.
