Dáil Éireann Debate, Wednesday - 26 July 2017
205. Deputy Thomas P. Broughan asked the Minister for Finance the impact on budget 2018 if the 9% VAT rate for the hospitality industry were increased to 10%, 11%, 12% and 13.5%; the estimated additional yield at each rate; and if he will make a statement on the matter. [36451/17]
Amharc ar fhreagraI am advised by the Revenue Commissioners that information on estimated costs of changes to all of the VAT rates can be found in the Pre-Budget 2018 Ready Reckoner on the Revenue Statistics webpage: http://www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf
The Revenue Reckoner details that the full-year cost of increasing the 9% VAT rate by 1% is estimated to be €109 million. Further increases can be estimated on a straight line basis assuming nothing else changes.
