Conferences:A scheme to allow VAT refunds on accommodation costs associated with conferences is to be introduced.
The announcement has been warmly welcomed by the Irish Hotels Federation whose president, Annette Devine, said it "will ensure Ireland is successfully positioned as one of the key locations on the international conference map".
"Allowing VAT refunds on hotel costs for conference visitors gives an enormous boost to marketing Ireland and in gaining a greater share of the €40 billion global conference market." The change "puts Ireland on a more even playing field with other EU countries when competing in the business tourism market".
She said the measure will be a major asset in promoting Dublin as a major international conference destination when combined with the expected announcement of a definitive completion date for the national conference centre in Dublin.Minister for Finance Brian Cowen said the measure should greatly help the hotel and tourism sector promote growth in the important conference business and benefit the entire country. He said the measure would allow deductibility of accommodation expenses on a ringfenced basis.
Ireland currently has an estimated 1 per cent of the business tourism market, but the federation believes it has the potential to capture a greater share of the market, given the right competitive taxation environment.
