Friday, July 1, 2011

Prices, what prices?

Back in March, in a brief scan through the new 'Progamme for Government' looking for film-related nuggets I mentioned that the exhibition trade would be glad of the proposed reduction in the 13.5% VAT rate.

The Government yesterday confirmed a reduction in the rate to 9%. This will mean a reduction in the VAT take from cinema tickets of about €5.3m (from around €15.9m to €10.6m) in a full year.

A €10 cinema ticket should now be €9.60, or less if the trade really want to reverse what appear to be faltering admissions this year.

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