Time for a VAT refund scheme for Charities – Doherty
Sinn Féin Finance Spokesperson Pearse Doherty TD has said Budget 2018 should see the announcement of a VAT refund scheme for charities. He said now is the time for the scheme which will provide a huge boost to the work of charities.
Deputy Doherty said:
“Having recently engaged with the charity sector, I am convinced there should be no more obstacles put in place and that the VAT refund scheme for charities can be put in place beginning in January with the first refunds beginning in 2019.
“This is something I have consistently been calling for since my election to the Oireachtas. Any potential issues with EU law have been ironed out and the Danish model appears to be a good match for the sector in Ireland.
“A cap will be required with refunds being made on a proportional basis within this cap. Private fundraising by charities is basically suffering a 23% hit as the tax man takes his bite of any investment or purchases by the charity. This scheme, with the details teased out, will effectively mean that the average citizen’s contribution to charity won’t be clawed back by the tax man to the tune of over one fifth.
“It is crucial that no more delays are put in the way and that the scheme is given the green light in the upcoming Budget.”