Noonan keeps VAT on food at 9%
Having participated in a lobbying group through ISME for the retention of the lower VAT rate for the hospitality sector, we are delighted that Minister Noonan has responded to our appeals by leaving it untouched in the forthcoming budget. The fragile economic recovery that we have seen over the past number of months, could easily have been crushed by a rise in VAT on restaurants and take aways. The hotel industry alone credits this lower VAT rate with creating over 15,000 jobs.
In a budget that was in general considered to be good for business, it was important to see this crucial element to our industry remain unchanged.