Financial Digest

Hospitality sector to call for retention of 9% VAT rate

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Representatives of the hospitality industry are preparing to meet the Minister for Finance Michael McGrath this evening in order to restate their demand for the retention of the 9% VAT rate

It is not expected that Minister McGrath will announce a decision tonight, with a Government source describing the meeting as a"listening exercise" which reflects the good relationship which was developed during the Covid-19 period.The Restaurants Association of Ireland warned over the weekend that one in every five restaurants in Ireland will be at risk of closure if the Government increases the VAT rate back to 13.5%.

This evening's remote meeting will include representatives from the hotel, restaurant, and pub industries. On Thursday, a cabinet sub-committee meeting is expected to consider the future of the various cost-of-living supports, including the reduced VAT rate with decisions being taken by the full Cabinet the following week.

The Coalition leaders will meet this evening, ahead of tomorrow's Cabinet meeting, but VAT is not expected to be discussed.

 

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The whole point of VAT is that the end consumer pays the VAT. The restaurants and hotels didn’t pass the impact of 13.5% dropping to 9% so it needs to be restored.

Lobby group crying wolf, again. The savings were never passed onto the consumers so the 9% rate should go now.

Magnificent margins too good to have tax eat into them. Let the little people pay.

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