Dáil Éireann Debate, Thursday - 29 September 2022
108. Deputy Richard O'Donoghue asked the Minister for Finance the amount of revenue paid by businesses at the different VAT rates for each of the years 2020 and 2021 and to date in 2022, in tabular form. [47737/22]
Amharc ar fhreagraI am advised by Revenue that traders are not required to separately identify the VAT yield across each of the different rates or their economic activity in their periodic VAT returns. Consequently, it is not possible to determine the amount of VAT paid by businesses under the different rate categories to the Exchequer from information contained in tax returns.
However, using third party data and estimates on consumer expenditure, an estimate of the VAT yield across each of the VAT bands is provided in the table below for the periods in question.
VAT Yield €m
|
Year |
Standard Rate (23%) |
Reduced Rate (13.5%) |
Second Reduced Rate (9%) |
Zero Rate (0%) |
|
2020 |
8,386 |
3,976 |
62 |
0 |
|
2021 |
11,272 |
3,397 |
772 |
0 |
|
2022* |
8,354 |
2,977 |
672 |
0 |
* Provisional YTD August
To aid interpretation of the table, the Deputy may wish to note that from 1 September 2020 to 28 February 2021, the standard rate of VAT was reduced from 23 per cent to 21 per cent, while the VAT rate for the tourism and hospitality sector was reduced from 13.5 per cent to 9 per cent on 1 November 2020.
The Deputy may also wish to note that Revenue publishes a Ready Reckoner which provides the latest available information on the VAT yield across each of the different VAT bands at the following address: www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf
