Irish retailers welcome VAT increase
Published: 05 January, 2010
DUBLIN: Irish merchants have welcomed the reduced tax differential between the Republic and Northern Ireland.
The reduction of the VAT rate to 21% combined with the restoration of the UK rate of VAT to 17.5% will give retailers a real opportunity to compete with traders north of the border.
Ian Talbot, Chambers Ireland chief executive said: "In the past 12 months many Irish retailers have seen their sales figures crash as result of the VAT and excise differentials, currency movements and higher costs of doing business in the Republic of Ireland."