Dáil Éireann Debate, Tuesday - 24 July 2018
232. Deputy Thomas P. Broughan asked the Minister for Finance the estimated impact on budget 2019 if the 9% VAT rate for the hospitality industry were increased to 10%, 11%, 12% and 13.5%, respectively; the additional estimated yield at each rate; and if he will make a statement on the matter. [33519/18]
Amharc ar fhreagra331. Deputy Joan Burton asked the Minister for Finance the estimated full year yield from changing the 9% VAT rate to 10% and then reverting to 13.5% respectively; and if he will make a statement on the matter. [34863/18]
Amharc ar fhreagraI propose to take Questions Nos. 232 and 331 together.
I am advised by the Revenue Commissioners that a 1% change to the 9% reduced VAT rate would result in an increase / decrease of an estimated €115 million.
These figures are available in the Revenue Ready Reckoner available at www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf which shows the yield from increases in the different VAT rates, including the 9% rate, and can be estimated on a straight line basis.
