Budget Rate change 2012

VAT - Increase in the Standard Rate of VAT to 23 per cent

The standard rate of VAT will increase from 21% to 23% with effect from 1 January 2012. All goods and services currently subject to the standard VAT rate of 21% will be affected by the Budget change.

Goods that will be subject to the increased rate of VAT will include:

• Drink & Cigarettes, Transport fuels, Vehicles:
  Confectionery, Consumer Goods, Hiring/Leasing and the following Services - Accountancy services, advertising, haulage, telecommunications, professional services (legal), toll roads.