Two retail giants have announced they will be passing on the reduced VAT rate next week to Irish customers.
A €5 billion rescue package was unveiled by the government on Thursday in an effort to reboot the economy in the wake of the coronavirus pandemic.
One of the key measures confirmed is that the standard rate of VAT will be cut from 23% to 21% across the board.
Aldi Group Buying Director John Curtin said: “The Irish Government July Stimulus Package announced [on Thursday] includes a reduction in the 23% VAT rate to 21%, for a period of six months from September 1.
"We’re not waiting for that and are pleased to confirm that Aldi Ireland will be passing on this VAT reduction to our customers on all affected products from the August 1."
Meanwhile, Lidl Ireland also announced they will be passing on savings from the recent VAT reduction to their two million weekly customers from August 1.
J.P. Scally, the CEO of Lidl Ireland, said: “I’m delighted to announce that we are bringing further value and savings to our growing customer base across the country during the same week we’re celebrating our 20th anniversary in Ireland."
