Government’s to introduce 2pc VAT hike in January
THE GOVERNMENT’S 2pc VAT hike to the highest 21pc rate will be made in January, Finance Minister Michael Noonan confirmed today.
He added that the 12.5pc corporation tax will not be changed in the budget as it is part of the Government’s growth strategy.
Speaking at the American Chamber of Commerce Thanksgiving lunch, he told members the Government is ''resolutely committed to maintaining our corporate tax regime''.
He added that efforts to stabilise the budget deficit are paying off.
“'Through a combination of economic recovery and further fiscal consolidation our medium term strategy is to bring the deficit below 3pc by the mid-part of this decade,'” he stated.