The July 2020 Jobs Stimulus Plan announced by the Government contains a suite of tax, loan and expenditure measures designed to directly support business at all levels of the economy that are negatively impacted by Covid-19. One of the key measures is the temporary reduction in the standard rate of VAT from 23% to 21% with effect from 1 September 2020 until 28 February 2021.
When a VAT rate change is introduced, there are a number of practical issues taxpayers need to consider.
If you have any questions on any of the above, we would be delighted to talk to you further so please contact one of the below members of the VAT team or your usual EY Tax adviser.
Eamonn McCallion firstname.lastname@example.org +353 1 221 1648
Brian Keenan email@example.com +353 1 221 2487
Aideen Farrell firstname.lastname@example.org +353 6 144 9896
Karl Smyth email@example.com +353 1 221 1790