The special 9 percent VAT rate for the hospitality industry is to be extended until 2023

The lower rate of 9 per cent VAT for the hospitality and tourism sector is set to be extended until early next year, according to Independent.ie.

The measure will be approved by Cabinet ministers tomorrow in a memo held under the arm of Treasury Secretary Paschal Donohoe.

The measure is expected to cost taxpayers more than 200 million euros.

The lower rate of 9 percent was due to expire at the end of August, but a senior source said the government was determined to help the hard-hit sector following the end of the Emergency Wage Subsidy Scheme (EWSS).

While it’s not clear how long the lower rate will apply, it’s expected to be raised to the higher rate of 13.5 percent sometime in the new year.

Minister Donohoe is to make an announcement after tomorrow’s cabinet meeting, which will be welcomed by the hard-hit industry.

Culture Minister Catherine Martin has previously said she would support an extension of the 9 percent rate for the sector.

https://www.independent.ie/irish-news/politics/special-9pc-vat-rate-for-hospitality-sector-to-be-extended-into-2023-41632108.html The special 9 percent VAT rate for the hospitality industry is to be extended until 2023

Fry Electronics Team

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