Budget 2012: Little increases mounting up
Increases in indirect taxes made up the vast majority of revenue-raising measures in Budget 2012, writes Jarlath O'Keefe at Ernst & Young.
In his speech, Minister Noonan confirmed a 2 per cent increase in the standard rate of Vat would become effective from January 1, 2012. He also confirmed that there would be no further increase to the standard rate of Vat in the lifetime of this Government. If the Government stands by that pledge, it does beg the question about exactly where and how future revenue might be raised from indirect taxes.
This might involve moving items which currently...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine