Bringing back the 9% VAT for hospitality would cost “well in excess of €700 million”, the Public Expenditure Minister has claimed.
Paschal Donohoe was speaking after Michelin star chef Dylan McGrath shut down two of his restaurants in Dublin city centre.
It said a recent survey had found that 74% of its members believes they will have to close their businesses if the VAT rate is not returned to 9%.Speaking yesterday Minister Donohoe appeared to pour cold water on any hopes the reduction will be announced in this year’s budget.“When it was last brought down, it was brought down at a time our hospitality sector was either closed or was barely able to function because of public health regulation.
“We are also in a position where we are seeing wages grow in our economy and if we don’t make changes with regard to our personal tax code on budget day, we will see many people paying a higher rate of USC and a higher rate of income tax just because their wages are going up due to their own work.”The Tourism Minister has previously said the hospitality rate could eventually be split – leaving hotels paying a different rate than pubs, restaurants and cafés.
Hospitality RAI Restaurants VAT
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