asked the Minister for Finance if he is aware that netting for the manufacture of lobster pots is VAT free and that lobster pots are liable to 23 per cent VAT and that the material for the manufacture of lobster pots is liable to 35 per cent VAT; and if he will apply a single rate of VAT to the material for the manufacture of such products and also the finished product.
Written Answers. - Lobster Pots.
470.
I am aware that different rates of VAT apply to the goods mentioned. I indicated in my budget speech that I would be looking at the possibility of a fundamental re-organisation of the VAT structure with the aim of narrowing the disparity in the rates charged on the bulk of goods and services. This review is now under way. I should point out that there is provision for repayment of VAT incurred on the purchase of lobster pots by unregistered sea fishermen, subject to conditions.