- OECD urges Ireland to broaden VAT base.
- Ireland has a low VAT revenue ratio.
- Standard VAT rate is 23 percent, fourth highest in EU.
- Reduced rates are widespread.
- Raising reduced rates by one percentage point would raise 583 million euros per year.
- OECD recommends merging reduced rates and increasing them over time.
- Reduced rates benefiting higher income deciles should be aligned to the standard rate.
Source: answerconnect.cch.com
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.
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