9% Reduced VAT rate set to be extended

In 2020, the hospitality sector received a welcome boost with a reduced VAT rate of 9% to assist due to significant losses incurred during the pandemic. The 9% rate applies to supplies of goods and services in the tourism and hospitality sector and also includes cinema admissions, theatre, museums, hairdressing services and printing.

This rate was due to expire in August but the Government is set to extend this further. It is expected to be extended until the end of the year but there are hopes this would continue into 2023.

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