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As part of Ireland’s new economic package of 50 measures, which will cost the Irish government €5.2 billion, the country will put a temporary Standard VAT cut in place which will last from 1 September 2020 to 28 February 2021. The cut will see Ireland’s Standard VAT rate decrease from 23% to 21% during these six months. The decision is expected to benefit the majority of consumers and has been implemented to finalise the package ahead of Ireland’s Cabinet meeting in Dublin.

J&P Comments

There have been a number of temporary VAT cuts put in place in recent months as a result of the coronavirus crisis across countries such as Germany and Mexico – although Ireland’s VAT cut is not for the same reason, it will definitely benefit businesses across the country who have struggled as a result of the pandemic.

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