- Finance Minister Michael McGrath has ruled out any changes to VAT taxation rates in 2024.
- The hospitality sector is calling for a return to the lower VAT rate due to restaurant and cafe closures.
- Taoiseach Leo Varadkar suggested considering a split VAT rate to help struggling hospitality firms.
- Rising costs and a higher VAT rate have left many operations in the sector struggling to survive.
- McGrath stated that there are no plans for changes to VAT rates in 2024.
- The government is finalizing changes to the tax debt warehousing regime to support businesses’ cash flow challenges.
- McGrath emphasized the government’s commitment to supporting businesses and employers.
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.