Following our earlier news item we can now confirm that the standard rate of VAT in Ireland will increase from 21% to 23% from 1st January 2012.

The Irish Minister of Finance has announced an increase in the standard rate of VAT to 23% (from 21%). This is part of the 2012 Budget. It is thought that the increase will come into force on 1st January 2012 but that has not yet been confirmed.