Leaked documents confirm Irish 2% VAT hike
International Tax Review is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Leaked documents confirm Irish 2% VAT hike

ireland-flag.jpg

Ireland will increase its VAT rate by 2% in next month's budget, leaked documents to the German parliament confirm.

The documents, which contained details of the new 23% VAT rate, were seen by a German parliamentary committee as the Irish leader, Enda Kenny, held talks with his German counterpart, Angela Merkel.

The European Commission apologised for the release, describing it as “regrettable”.

The 2% hike is expected to generate €670 million ($905 million) annually in extra revenue.

Speaking today, Ireland’s finance minister, Michael Noonan, said the hike had been agreed in negotiations with the European Central Bank, European Commission and the IMF.

Earlier this month, Noonan was selected by International Tax Review as one of the 50 biggest influences in tax.

For full coverage of Ireland’s budget, follow www.internationaltaxreview.com.

more across site & bottom lb ros

More from across our site

EMEA research now open
Luis Coronado suggests companies should embrace technology to assist with TP data reporting, as the ‘big four’ firm unveils a TP survey of over 1,000 professionals
The proposed matrix will help revenue officers track intra-company transactions from multinationals
The full list of finalists has been revealed and the winners will be presented on June 20 at the Metropolitan Club in New York
The ‘big four’ firm has threatened to legally pursue those behind the letter, which has been circulating on social media
The guidelines have been established in the wake of multiple tax scandals and controversies that have rocked the accounting profession
KPMG Netherlands’ former head of assurance also received a permanent bar and $150,000 fine; in other news, asset management firm BlackRock lost a $13.5bn UK tax appeal
The new, fully integrated office will also offer M&A, dispute resolution, IP and corporate tax services
The new guidance concerns a recent 1% excise tax on the repurchases of corporate stock for both US and certain foreign companies
Interpath has hired a managing partner from rival accounting firm BDO to lead the new operation
Gift this article