Questions and Answers
What are the VAT changes announced in Budget 2021?
I run a small restaurant and am wondering if the new VAT rate will affect me?
Today Minister for Finance Paschal Donohoe announced a reduced VAT rate from 13.5% to 9% for the tourism and hospitality sector. This will affect restaurants, hotels etc.
The new rate will come into effect on 01 November 2020 and will run until December 2021.
The Minister also confirmed that the reduction in the standard rate of VAT from 23% to 21% will expire as planned at the end of February 2021.
You can read the full TaxAssist Accountants Budget 2021 Summary here.
Last updated: 15th October 2020
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