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Economic Recovery Plan guarantees extension of 9% tourism VAT rate for businesses in Waterford

The Economic Recovery Plan launched by the Government today sets out a range of supports and investment for the tourism industry in Waterford, including the extension of the 9% tourism VAT rate, a Fine Gael Senator has said.

The Plan includes targeted supports for the tourism sector such as pilot events for arts, culture, sports, and live entertainment, as well as restart payments up to a maximum of €30,000 for businesses reopening in time for the tourist season this Summer.

Senator Cummins said, “From double CRSS payments to a lower VAT rate, the tourism industry in Waterford is set to get a real boost over the coming months with the launch of the Government’s Economic Recovery Plan.

“I know that some businesses haven’t had the opportunity to take full advantage of the reduced tourism VAT rate to date, so I’m delighted to see the extension of the tourism VAT rate of 9% until September 2022. This will give businesses across Waterford the opportunity to claw back some of their much-needed lost revenue.

“Many restaurants, shops and local attractions in Waterford have faced huge challenges over the past 15 months, but today’s announcement marks a new chapter on our road to recovery post-pandemic.

“Our economic recovery is going to be rapid; businesses are going to reopen, and people are going to return to their jobs.

“Summer 2021 is a summer we can look forward to, with tourists returning to visit our local attractions and businesses here in Waterford. We’re going to see people back in our restaurants and pubs, our parks and beaches, and our local shops and attractions.

“The supports for the tourism industry outlined in the Plan go far beyond the reduced VAT rate. The commercial rates waiver will be extended for three months for businesses in Waterford, while businesses set to reopen can avail of double CRSS payments for three weeks up to a maximum of €30,000,” Senator Cummins concluded.

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