BUDGET 2003

The Budget includes increases in VAT, Excise Duty and Stamp Duty. 

VAT

The standard rate of VAT stays at 21%.   

The lower VAT rate (which applies to such business sectors as construction, contracting and hairdressing) rises from 12.5% to 13.5%. 

This change will take effect from January 1, 2003.

Excise Duty

Excise duty on cigarettes and other tobacco products will increase by 50 cent per packet of twenty cigarettes and pro-rata on other products

Excise duty on spirits will go up by 20 cent per standard measure.

Duty on Alcopops is being raised by 35 cent per bottle.

Duty on diesel will go up by 3 cent per litre.

These excise duty increases are to take effect immediately.

There are minor increases in VRT for certain categories of cars. 

Stamp Duty

Non-Residential Property - See Here

Cheques, Credit Cards etc

The stamp duty on Cheques goes up from 8 cent to 15 cent per cheque

The stamp duty on Credit Cards goes up from €19 to €40 per annum.

The stamp duty on ATM Cards goes up from €6.25 to €10 per annum

A new stamp duty of €10 per annum will be charged on Laser Cards.