Trump administration tariffs are anticipated to land at 15%, creating fears of substantial economic repercussions, particularly in the hospitality sector. The planned €1 billion VAT reduction for this industry has been postponed until July 2026, allowing the government more flexibility for other tax cuts in the forthcoming Budget. Despite earlier claims by Finance Minister Paschal Donohoe that this VAT modification would require two-thirds of next year's tax package, current assessments suggest that this may no longer hold true.
The upcoming tariffs imposed by the Trump administration are projected to reach 15%, raising concerns over significant economic impacts, especially in the hospitality sector.
A €1 billion reduction in VAT for the hospitality sector has been postponed until July 2026 to provide flexibility for additional tax cuts in the upcoming Budget.
Finance Minister Paschal Donohoe's earlier remarks suggested that the VAT decrease would consume two-thirds of next year’s tax package, but recent evaluations indicate otherwise.
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