Manning Financial

The Irish Tourism Industry Confederation (ITIC) has said a VAT deferral scheme is vital to alleviate serious cashflow pressures in the tourism and hospitality sectors.

The representative body said immediate action is critical because thousands of jobs are at stake due to the volume of cancellations and lack of future bookings.

“Coronavirus is first and foremost a public health issue but the business and economic implications are stark,” said Eoghan O’Mara Walsh, CEO of ITIC.

“We fear that thousands of tourism jobs will be lost in the next few weeks and are urging Government to do all within its power to support the county‚Äôs largest indigenous industry and biggest regional employer.”

In order to alleviate cashflow pressures, ITIC has called for VAT payments due on March 19th to be deferred for tourism and hospitality businesses.

This happened during the Foot and Mouth Crisis in 2001.

The call was backed by other industry groups, including the Irish Hotels Federation, the Restaurants Association of Ireland, the Association of Visitor Experiences and Attractions and other ITIC members.

The call came as new data released by the Central Statistics Office today showed the number of overseas trips made to Ireland rose just 1.8% last year.

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