62. Deputy Róisín Shortall asked the Minister for Finance the net cost of reducing the standard rate of VAT from 23% to 15%, assuming the following adjustments in excise duty rates, a full clawback of the reduction by increasing excise duties on tobacco and tobacco products to equal the value of the VAT reduction, a 3 cent increase per litre in fuel duties; a clawback of 25% of the VAT reduction on beers, spirits, ciders, and so on, but not on wine; the anticipated effect of such changes on the inflation rates, both CPI and HICP; the gains to the retail sector, in particular the retail sector close to the border with Northern Ireland; the gains to each of the following counties, namely Louth, Donegal, Sligo, Leitrim, Cavan and Monaghan; the Exchequer raised in tax and by the reduction of trade crossing the border into Northern Ireland; the Exchequer raised in tax from residents in Northern Ireland opting to shop here; the employment gains likely to be generated from such changes, considering the claims to the success of the earlier partial reduction of the lower VAT rate from 13.5% to 9%. [4262/15]

Summary

62. Deputy Róisín Shortall asked the Minister for Finance the net cost of reducing the standard rate of VAT from 23% to 15%, assuming the following adjustments in excise duty rates, a full clawback of the reduction by increasing excise duties on tobacco and tobacco products to equal the value of the VAT reduction, a 3 cent increase per litre in fuel duties; a clawback of 25% of the VAT reduction on beers, spirits, ciders, and so on, but not on wine; the anticipated effect of such changes on the inflation rates, both CPI and HICP; the gains to the retail sector, in particular the retail sector close to the border with Northern Ireland; the gains to each of the following counties, namely Louth, Donegal, Sligo, Leitrim, Cavan and Monaghan; the Exchequer raised in tax and by the reduction of trade crossing the border into Northern Ireland; the Exchequer raised in tax from residents in Northern Ireland opting to shop here; the employment gains likely to be generated from such changes, considering the claims to the success of the earlier partial reduction of the lower VAT rate from 13.5% to 9%. [4262/15]

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• VAT Rate Application

  xml · EN · 29 January 2015

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