News | Latest Breaking News Stories & Headlines

Retail Excellence calls for cut in VAT to boost retail sector

Retailers call for 3% cut in VAT to combat Brexit

Retail Excellence has called on the Government to reduce VAT by 3% in Budget 2018 in an effort to protect retailers from the effects of Brexit.

Business • 05 Jul 17

Italian Prime Minister Paolo Gentiloni announces new taxes and VAT measures

Italy hikes taxes to rein in 2017 budget deficit

The Italian government said it would raise taxes on tobacco and gambling and crack down on evasion of value added tax to help it reduce this year's budget deficit, as demanded by the European Union.

Business • 25 Apr 17

EU Economics Commissioner Pierre Moscovici says he favours giving states the freedom to set rates as they prefer 'so long as it does not generate tax distortions'

EU states set to have more power over VAT rates

EU states will have more powers to set sales tax rates, the European Commission has said, presenting a broad reform of VAT rules, which also aims to curb widespread fraud involving VAT.

Business • 07 Apr 16

Expected to be made public next week, the EU document said 'VAT needs to be modernised and rebooted'

EU may hand back power to member states over VAT

The EU might hand back powers to cut some VAT sales tax rates, according to a draft plan seen by Reuters news agency shows.

Business • 11 Mar 16

Irish firm Fintrax provides VAT refunds for tourists

Eurazeo to pay up to €335m for Ireland's Fintrax

French investment firm Eurazeo said today that it plans to pay up to €335m to buy 90% of Irish group Fintrax, a provider of VAT refunds for tourists.

Business • 23 Nov 15

Restaurant owners, landlords, medical consultants, company directors, retailers, builders and car dealers feature in Defaulters' List

Latest settlements paid to Revenue total €21.3m

The latest Tax Defaulters List shows that in the three months to the end of March, settlements worth €21.3m were made with Revenue.

Business • 09 Jun 15

Hospitality industry has benefited from the reduced VAT rate

Reduced VAT rate may have cost State €644m

The reduced VAT rate for the hospitality industry could have cost the State more than €500 million since its introduction four years ago.

News • 24 Mar 15

Wetherspoon's sales rose 2.8% in its fiscal second quarter, down from 6.3% posted in its first quarter

Wetherspoon blames supermarkets for slowdown

JD Wetherspoon said that sales had slowed significantly in its second quarter, blaming cheap supermarket prices for keeping bar receipts flat over Christmas and New Year.

Business • 21 Jan 15

VAT and stamp duty returns were well up on expectations for October, though income tax was down

Exchequer 3.5% ahead of target in year to October

Exchequer returns for the year to the end of October shows tax revenues running 3.5% ahead of target, with just over €1bn in extra revenue for the State.

Business • 05 Nov 14

SIPTU wants the 9% VAT rate removed from the hospitality sector

Call for VAT rate to be linked to JLC wage-setting

SIPTU has called on Minister for Finance to withdraw the 9% VAT rate from the hospitality sector unless employers agree to take part in a Joint Labour Committee to regulate wages and conditions.

News • 09 Oct 14

45 hotel deals completed so far this year

Hoteliers made the most of a good summer with about 87% of hotels and guesthouses reporting higher business levels, according to the Irish Hotels Federation.

Business • 26 Sep 14

The association is calling for the 9% VAT rate on tourism-related services to be maintained in the upcoming Budget

21,600 hospitality jobs 'created since VAT cut'

Over 21,600 jobs have been created in the food and accommodation sector since VAT on tourism-related services was reduced to 9%, according to the Restaurants Association of Ireland.

Business • 25 Aug 14

Revised Exchequer figures for the last two months to be published at a later date

Finance reports error in Exchequer figures

The Department of Finance has had to revise last month's Exchequer figures after errors were discovered in how income tax and VAT returns had been measured.

Business • 08 Apr 14

Welcome for move to scrap air travel but call to bring the measure forward to January

Broad welcome for move to keep 9% VAT rate

Fáilte Ireland today welcomed the decision in Budget 2014 to continue with the reduced rate of 9% VAT for the hospitality sector

Business • 15 Oct 13

The VAT rate for the tourism and hospitality industry was given a temporary cut in 2011

9% VAT rate to be retained for tourism industry

The VAT rate for the tourism and hospitality sector is to stay at 9% as part of Budget 2014.

Business • 15 Oct 13

Michael Noonan said €360 million would have to be found elsewhere if the 9% rate was maintained

Noonan indicates hospitality VAT rate rise

The Minister for Finance has strongly indicated that the 9% rate of VAT for the hotel and tourism industry, which was reduced from 13.5% last year, will rise in his forthcoming Budget.

Business • 20 Sep 13

Michael Noonan said that if the 9% rate was retained he would have to find €360m elsewhere

Return to 13.5% VAT rate for tourism sector likely

Minister for Finance Michael Noonan has indicated that the 9% rate of VAT for the hotel and tourism industry will rise in the forthcoming Budget.

News • 20 Sep 13

Adrian Cummins said that tourism employment had risen by 9,000 since the 9% VAT rate was reduced in 2011

Call to keep 9% VAT rate for restaurants in Budget

The Restaurants Association of Ireland has said retention of the lower 9% VAT rate for the tourism industry in the Budget is crucial for the survival of restaurants.

Business • 17 Sep 13

Bodies such as schools, hospitals and voluntary groups will have to pay VAT on their water bills

No plans to charge VAT on water - Govt sources

Government sources have indicated there are no plans to charge VAT on domestic water charges.

News • 13 Sep 13

VAT to impact local authority leisure services

Many users of swimming pools, gyms and pitch & putt courses owned by local authorities will have to pay more in the New Year.

Business • 17 Dec 12

France hikes VAT, cuts spending to boost industry

France will ease payroll taxes by €20 billion over three years, funding that with spending cuts and sales tax rises.

Business • 06 Nov 12

The Spanish government has been given an extra year, until 2014, to reach the 3% deficit target

Spain PM announces €65 billion in cuts, taxes

Spain's Prime Minister Mariano Rajoy today announced €65 billion in drastic spending cuts and a VAT tax rise to rein in spiralling sovereign debt.

Business • 11 Jul 12

Mick Wallace said "I really did believe that I would have been able to pay the VAT at a later stage and I was trying to save the company."

Probe sought into Mick Wallace's tax affairs

Calls are being made for an investigation into the tax affairs of Independent TD Mick Wallace after he admitted his company under declared VAT on the sale of apartments.

News • 08 Jun 12

9% VAT rate for tourism sector extended

The lower VAT rate of 9% for the tourism industry will continue into 2013.

News • 09 May 12

Restaurants want tourism VAT to stay at 9%

The Restaurants Association is calling for the 9% tourism VAT rate to be retained for next year.

Business • 16 Apr 12

VAT