Minister to lobby for cut in VAT rate amid local restaurant closuresIn the wake of the closure of two popular cafes in Athlone this weekend, local Minister for Enterprise Peter Burke has confirmed that he will advocate for a cut in the VAT rate for the hospitality sector in forthcoming budget negotiations. The Coffee Haven name is set to disappear from the local business landscape, as the Magliocco family have confirmed that the re-opened premises will bear the new name of 'Spanners Cafe.' The VAT rate for tourism and hospitality was cut from 13.5% to 9% during the pandemic to protect businesses affected by public health restrictions. Minister Burke has pledged to work towards securing a cut in the VAT rate, and said it will form part of his submission to the Department of Finance ahead of budget negotiations. The Minister added that he would be advocating for a cut in the VAT rate both at Cabinet and to the Minister for Finance.

Source: Irish Independent June 28, 2024 20:35 UTC