Jim Mitchell
Ceist:88 Mr. J. Mitchell asked the Minister for Finance if he is in a position to give a definite answer to Parliamentary Questions Nos. 29 and 30 of 28 June 1990 regarding VAT.
Written Answers. - VAT Returns.
I am now in a position to give more definite answers to Parliamentary Questions Nos. 29 and 30 of 28 June 1990.
Reply to Question No. 29: VAT returns are not completed in a manner which would enable the yield from particular goods or services to be identified. From available non-revenue data the following are broad estimates of VAT yield for 1990 in respect of (1) advertising, in all media, (2) sales of newspapers and (3) sales of periodicals:
|
Item |
£m |
|
Advertising (in all media) |
5 |
|
Newspapers |
18 |
|
Periodicals |
9 |
It is not possible to give the breakdown of figures (1) and (2) requested.
Reply to Question No. 30: the estimated full year cost in 1990 of applying the zero rate to newspapers would be approximately £18 million. However, the introduction of new zero-rates is prohibited by EC VAT law.
There are no reliable data on VAT yield from newspaper advertising alone. An estimate of the full year cost of reducing the 23 per cent VAT rate to 10 per cent on advertising in all media would be of the order of £2.5 million.