Tourism Industry Greets Budget 2014 Tax Measures with Open Arms
Tourism industry welcomes tax measures in Budget 2014
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The budget 2014 announced yesterday to continue the low 9% VAT rate, which was expected to be abolished. Yesterdays CSO figures displayed an 8% increase in revenue from overseas tourism from January – June of this year, proving the low VAT rate successful and giving high prospects for Irelands future hospitality industry.
The air travel tax has also been reduced to 0%, these measures are believed to allow the tourist industry to flourish and create jobs, allowing the Irish Market to expand.
Minister for tourism Leo Varadkar stated the budget 2014 would be “hugely significant for the tourism industry.”
Irish Hotels Federation President Michael Vaughan stated “Today’s budget is good news for Irish tourism and is a clear recognition by the Government of the importance of tourism as a labour intensive industry with enormous potential for further job creation.”