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13/02/2019
Minister For Finance Urged To Intervene On Supplements Tax
The Minister for Finance, Paschal Donohoe, has been urged to intervene to prevent the introduction of VAT of 23% on many food supplements on 01 March 2019
Making the call, Fianna Fáil Spokesperson on Finance Michael McGrath, said: "The application of VAT to food supplements was discussed at length during the passage of the Finance Bill last year. At the time, I asked the Minister to ensure that no changes were made pending a promised review of the issue by the Tax Strategy Group in the summer of 2019.
"Despite this, Revenue now plans to proceed with the imposition of VAT at the 23% rate in a little over two weeks. It makes sense that no changes are made in this area until the Tax Strategy Group has had an opportunity to consider the issues more fully.
"People are taking various food supplements for all sorts of reasons and broadly in an effort to live healthier lives, and this change will have a detrimental impact on them. For individuals and families already under pressure from the rising cost of living, this increase is most certainly not needed. The sector too will inevitably suffer major damage if it proceeds.
"I believe these changes should be halted until a full review can take place as part of the Tax Strategy Papers due to be published in the summer. Minister Donohoe needs to urgently engage with Revenue on this issue and ensure that no change is made until the issue is more comprehensively analysed as part of an expert review later in the year," concluded Deputy McGrath.
(MH/CM)
Making the call, Fianna Fáil Spokesperson on Finance Michael McGrath, said: "The application of VAT to food supplements was discussed at length during the passage of the Finance Bill last year. At the time, I asked the Minister to ensure that no changes were made pending a promised review of the issue by the Tax Strategy Group in the summer of 2019.
"Despite this, Revenue now plans to proceed with the imposition of VAT at the 23% rate in a little over two weeks. It makes sense that no changes are made in this area until the Tax Strategy Group has had an opportunity to consider the issues more fully.
"People are taking various food supplements for all sorts of reasons and broadly in an effort to live healthier lives, and this change will have a detrimental impact on them. For individuals and families already under pressure from the rising cost of living, this increase is most certainly not needed. The sector too will inevitably suffer major damage if it proceeds.
"I believe these changes should be halted until a full review can take place as part of the Tax Strategy Papers due to be published in the summer. Minister Donohoe needs to urgently engage with Revenue on this issue and ensure that no change is made until the issue is more comprehensively analysed as part of an expert review later in the year," concluded Deputy McGrath.
(MH/CM)
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