asked the Minister for Finance the amount of revenue which was foregone in VAT exempted items under the heading of footwear, clothing and food in 1985.
Written Answers. - VAT Exempted Items.
58.
The amount of tax foregone would depend on the level of the positive VAT rates which might be applied to the items in question. It is estimated that the yield from each 1 per cent of a VAT charge on these items, calculated arithmetically in 1985 full year terms, would be as follows:
|
Children's footwear |
£0.8m. |
|
Children's clothing |
£0.2m. |
|
Zero rated food and drink |
£19.2m. |