Reduced VAT rates: 9% newspapers, admission to cultural sporting and entertainment events, hotels, restaurants
Reduced VAT rates: 4.8% foodstuffs
Reduced VAT rates: nil% books, medical products, children’s clothing
Ireland is to increase its standard VAT rate from 21% to 23% from January 2012. The rise was announced in this week’s budget.
This increase is an acceleration of plans to raise the VAT rate to 23% by 2014. This original plan was announced in 2010 to assure financial backers of Irelands intent to restore balance to its fiscal position. The target is to reduce the GDP deficit from over to 10% to below 3% by 2015.
Should you register for Irish VAT?
Importing goods into the EU via Ireland
Buying and selling goods within Ireland
Operating consignment stock warehouse in Ireland, holding goods prior to onward sale to local companies.
Organising live events and exhibitions with paid-for admission on the door
If a company is otherwise a non-VAT trader, but is receiving services in Ireland under the reverse charge rule.