05.27.22

VAT reduction on gas and energy bills

The recurring trend for the reduction in VAT rates for energy and gas continues unabated across Europe, considering rising inflation and the post-Covid economic recovery.

Ireland is no exception- and the Irish Ministry of Finance has announced a VAT reduction from 13.5% to 9% to take effect from 1 May 2022. This is expected to run until 31 October 2022.

VAT reductions often prove to be costly – and in Ireland, the reduction in VAT rates for energy and gas will come at a cost of 46 million Euros to the government.

In addition to rising inflation, it is likely the measure was introduced to counteract the carbon tax, which is also commencing on 1st May 2022. Such measures serve to demonstrate that VAT must be viewed as part of a greater intricate framework of taxes within the fiscal structure rather than a tax in isolation and underlines the challenging role of the government to balance and manage the effects of taxation.

Browse Ireland updates

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Extension of reduced VAT rate for hospitality and tourism
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VAT reduction on gas and energy bills
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VAT reduction for energy and electricity rates
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Irland: Senkung der Umsatzsteuer für das Gastgewerbe
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