Budget 2003 adds to Charities VAT Bill

The rise in the lower rate of VAT from 12.5% to 13.5% in this year’s budget adds more to an already heavy VAT burden on charities and makes it even more imperative for us to achieve a VAT refund mechanism for the sector. Add to that the increase in stamp duty on cheques and credit cards and we can see that Budget 2003 is not exactly good news for the sector.

Press Release 05/12/02

Charity VAT burden goes up again

The Irish Charities Tax Reform Group today highlighted the VAT burden on charities.

“Charities already pay at least €63m in VAT which, unlike companies, we cannot reclaim,” said Niamh ni Chonghaile of the Irish Charities Tax Reform Group.

“The increase in the lower rate of VAT to 13.5% will once again hit charities where it hurts, she added.

The Irish Charities Tax Reform Group (ICTRG) is an umbrella organisation of 117 charities and voluntary groups, campaigning for a tax free environment for its members.

www.vatcampaign.com

For further information please contact: Niamh ni Chonghaile on 086-233 52 94