Good news on VAT

  • The 9% VAT rate for the hospitality and tourism sectors will be extended temporarily for a further six months to 31 August 2023.
  • The 9% VAT rate that currently applies to supplies of gas and electricity will be extended to 31 October 2023.
  • With effect from 1 January 2023, the zero rate of VAT applies to newspapers.  However, the supply of newspapers that are wholly or predominantly devoted to advertising are excluded and are liable to VAT at the standard rate. Prior to 1 January 2023, the second reduced rate of VAT applied to newspapers.