Ireland to increase VAT rate to 23% – 2x UPDATED
Reuters reports that Ireland will increase their standard VAT rate from the current 21% to 23%. The Irish budget will be published on December 6, and the VAT increase is a significant part of the EU/IMF bailout requirements.
I assume that the new rate will come into effect on or around January 1, 2012.
This proposal is now confirmed, but no final decision has been made – see http://www.tax-news.com/news/Noonan_Confirms_Irish_VAT_Hike____52656.html
UPDATE:
More from Reuters: http://www.reuters.com/article/2011/11/17/us-ireland-budget-idUSTRE7AG1VR20111117
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