Isme wants standard Vat rate and hospitality Vat rate reduced in budget

The business group claims it would help offset the decline in revenues to the Exchequer, and boost many small firms

Business group Isme seeks greater representation on key policy-making boards, saying the 'Government continues to be dismissive of the strategic importance of the SME sector in Ireland'.

Additional economic activity from cutting the standard rate of Vat to 21% from 23% and reducing the Vat business hospitality rate back down to 9% would help offset the decline in revenues to the Exchequer, and boost many small firms, business group Isme has said. 

Cutting both rates of Vat, and not just the Vat hospitality rate currently at 13.5%, are part of Isme's submission to persuade Finance Minister Michael McGrath in framing his budget.