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Government Considering Reduction To VAT Rate For Hospitality Sector

Friday, 2 February 2024 08:59

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Also in your business news, Irish airports are expecting to see 400,000 passengers this weekend.

A reduced VAT rate is being considered to try to stem the tide of restaurant closures. 

The hospitality sector benefited from a 9% VAT rate during the pandemic, but that went back up to 13.5% cent last September.

Now, Taoiseach Leo Varadkar says splitting the rate to help restaurants, pubs and cafes is "technically possible and warrants consideration".
Fine Gael Senator Garret Ahearn says they should be treated differently to hotels

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Dublin, Cork and Shannon Airport's are expecting up to 400,000 passengers between them over the Bank holiday weekend.

340,000 will use terminal's one and two at Dublin airport with numbers swelling as thousands of supporters head to France for Ireland's Six Nations' opener later this evening. 

Cork Airport is expecting 30,000 passengers to use its facilities while Shannon will cater for 21,000. 

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Looking at today's Currency Markets, €1 buys you £0.85 and $1.08.
While the ISEQ Index of Irish Shares is at 9,130, up 0.1% since the opening.

Your business headlines – with IFAC - providing accountancy and tax advisory nationwide with locations in Mullingar, Portlaoise and Tullamore, find your local office today! IFAC.IE

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