The following are the names of some of the titles of publications that WILL be accorded a 0% VAT rating, down from the special second rate of 9%, having previously been 13.5%.
Irish Racing Post (7 daily editions) €4.90
Racing Post Betting Display ( 7 editions) €7.70
The Racing Post Weekender €6.20 (weekly)
Racing & Football Outlook €5.20 ( weekly)
Irish Farmers Journal €3.60 ( weekly)
The Irish Field €4.30 ( weekly)
The Sporting Press €4.00 ( weekly)
Other “news” offerings that are a subscription-only service such as The Currency will be 0% rated even though they do not have, nor never have had, a physical newspaper or newsletter by the same name.
Any subscription to a digital newsletter service , regardless of where it is situated, can make a case to be 0% rated.
UK papers circulating here will benefit from Paschal’s largesse.
The Daily and Sunday Express
The Daily and Sunday Telegraph
The Guardian
The Observer
Sunday Mail
Financial Times
Wall Street Journal
None of these publications will be reducing the cover price of their titles to reflect the removal of VAT.
One publisher, Iconic Newspapers, publisher of more than a dozen regional titles including The Limerick Leader , Kilkenny People and Leinster Leader have actually increased the cover price in advance of the Jan 1st VAT change, ensuring a Double windfall for the London-based owner, Malcolm Denmark.
Ever since VAT was introduced in 1972, newspapers and magazines, periodicals and journals were treated and described in the same manner and treated the same. The Finance Bill is creating a huge problem for retailers in making the correct calls for the 3,500 titles available to them from the two distributors.
Vincent Jennings
CEO
CSNA- Convenience Stores and Newsagents Association.