Magazines Ireland has called on the Irish Government to support the European Council to reach an agreement to support zero VAT rates applied to printed and digital magazines, in its annual pre-budget submission.
"Magazines Ireland strongly supports the Commission proposal offering the possibility to all Member States to apply reduced, super-reduced and zero rates to printed and digital magazines.” Ciaran Casey, Chairman, Magazines Ireland said.
The association also raised its concerns on Brexit's impact on the magazine industry and noted that 'the current EU VAT Directive needs reform'.
Casey stated, “We believe that Irish magazines should be zero rated. Many of our European neighbours enjoy more attractive rates of VAT on magazines for example the UK, Belgium, Italy, Luxembourg and France all enjoy zero or super-reduced rates."
Casey said that the trade association of magazine publishers is monitoring the EU Action Plan on VAT very closely and the file has now been taken over by the Estonian presidency.
He added, "In supporting VAT at zero% the Irish government would be sending a strong signal of the importance it attaches to the magazine industry and the contribution it makes to the Irish economy”.
© 2017 - Checkout Magazine by Donna Ahern