Ireland Looks at Lowering VAT on Electricity and Gas Bills

Ireland is looking at lowering the tax on energy bills to ease a cost-of-living squeeze as prices surge, national broadcaster RTE reported.

The VAT rate on electricity and gas bills will be dropped to 9% from 13.5% under plans being considered by the government, RTE said. That would translate to average annual reductions to electricity and gas bills of 61 euros ($66) and 49 euros respectively, it said.

The measure would be introduced on a temporary basis and would require an amendment to the Finance Bill, RTE reported.

Further work on measures, outlined by Finance Minister Paschal Donohoe to ...