Irish Tourism Body calls For Cap On VAT Increases
In its 2004 Budget Submission to the Finance Ministry, the Irish Tourist Industry Confederation has called for measures that will restore the country’s international competitiveness, and a moratorium on increases in indirect taxation and other cost increases.
In parallel with the recommendations set out in the recent report by the Tourism Policy Review Group, ITIC is urging the government to restrict public sector price increases and restore the VAT rate on tourism-related goods to 12.5%, with a view to reducing the rate to 10%.
The Review Group report has proposed a growth target for visitors to the Republic that anticipates an increase of 4 million visitors by 2012 to 10 million. An increase of this size would likely double the revenue contribution to the economy to a figure of 4.4 billion euros.
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