Friday, 6 September 2019

Ceisteanna (151)

Michael Healy-Rae

Ceist:

151. Deputy Michael Healy-Rae asked the Minister for Finance if the VAT free limit will be increased (details supplied); and if he will make a statement on the matter. [36406/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. The VAT Directive provides that VAT registration thresholds may only be raised by Member States to maintain their value in real terms, that is, they may only be increased in line with inflation. Our VAT thresholds were increased to their current values, €37,500 for services and €75,000 for goods, on 1 May 2008 and as the Central Statistics Office figures show the consumer price index is below the level it reached in 2008, therefore it is not possible to increase these thresholds.

Ireland’s VAT registration thresholds for small enterprises and the self-employed are among the highest in the EU.

Question No. 152 answered with Question No. 56.