Irish members are reminded that the standard VAT rate drops from 23 per cent to 21 per cent from September 1.

This cut will apply until February 28 2021 and is one of a number of measures to help businesses cope with the economic struggles due to the Covid-19 pandemic.

Businesses will also be able to delay payment of their PAYE and VAT for a period without incurring any penalties.

The cut is aimed at decreasing the costs of purchases such as food, alcohol, clothes and motor repairs for Irish consumers.

 

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