Cliff Taylor, the editor of The Sunday Business Post, says the Vat hike will certainly hit retail sales and will affect the poor disproportionately – the question is will the measure have the desired effect of raising the bulk of tax revenues required under the terms of the so-called bailout? And now the cat is out of the bag regarding how the government intends to raise the tax component of the €3.6 billion our Troika masters are demanding.
Posts Tagged ‘VAT’
In a week when the Government ratcheted up a notch or three its campaign against the major supermarkets’ policy of selling below-cost alcohol, a backbench TD has turned the spotlight on how taxpayers are effectively subsidising cheap booze.
Fáilte Ireland chief executive Shaun Quinn has written to tens of thousands of tourism businesses across the state urging them to cut their prices with immediate effect from Friday, the day when the Vat rate on goods and services in the sector falls from 13.5% to 9%, The Sunday Business Post reports.
When it comes to taxation policy, consistency obviously isn’t the new Government’s forte. It may have ruled out more income tax increases but in other areas it would appear confusion reigns. A VAT reduction may be in the offing for some goods and particularly services but previous ‘untouchables’ now seem to be on the table.