Noonan keeps 9% VAT rate for hospitality sector
Finance Minister Michael Noonan has been delivering Budget 2014 to the Dáil, containing, as expected, €2.5bn worth of cuts and new taxes.
Free GP cards for children under five, steep hikes in the price of alcohol and cigarettes and cuts to pensioners allowances are said to be central to this year's package.
So far the Minister has announced that VAT rates for the hospitality sector will remain at the reduced 9% rate announced last year and the air travel tax is to be reduced to zero from April of next year.
There is also good news for those planning home renovations in the next two years.
Michael Noonan's unveiled a tax incentive scheme for homeowners who spend between €5,000 and €30,000.
But in an effort to root out the black economy it is only payable to those who use registered and legitimate building contractors.
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