Vat cut on hospitality would cost State €320m
Minister for Finance outlined figure in response to parliamentary question as pressure from hotel and restaurant owners builds ahead of Budget
Cutting the 13.5 per cent Vat rate on hospitality and tourism to 9 per cent for the duration of next year would cost the State €320 million, estimates by the Department of Finance suggest.
The government came under intense pressure from hotel groups and restaurateurs to include a cut in the 13.5 per cent mid-rate of Vat as part of the €7.4 billion stimulus package it announced in July.
In the end, the government opted instead for the...
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