Push to maintain reduced Irish VAT on restaurants
The Irish restaurant and hospitality sector has started campaigning to maintain the reduced 9% Irish Value Added Tax rate. It claims that the reduction is creating over 5,000 jobs.
The sector claims that since the rate was reduced from the standard Irish reduced VAT rate of 13.5% in July 2011, it has directly contributed to the growth of the market whilst the rest of the Irish economy has faltered. Dublin’s tourism sector has stabilised, but the picture is bleaker in the wider country.
The rate will shortly (2014) be returned to the 13.5% rate as it is costing the Irish state over €350million per year.