VAT (VALUE ADDED TAX) is a consumption tax paid by end consumers. It is collected along a supply chain by businesses who sell goods and services onwards to other businesses or consumers. The rate of VAT applied depends on many factors, such as place of supply, type of good or service and if the customer is VAT registered or not.
VAT may apply to Irish sales, or sales abroad. You may be obliged to register for VAT abroad, and there are many rules on what VAT is recoverable.
The highest rate of VAT in Ireland is 23% / reduced to 21% temporarily in year 2020, with the lower rates being 13.50%, 9% and 0%.
We can advise you on your local and international VAT obligations.
VAT structuring is important is you plan to trade abroad and moving any goods in/out of Ireland or EU.
There are also customs duty issues, which need to be factored into the cost of doing business.
Who must register for VAT in Ireland
- If you supply services for a turnover exceeding €37,500 in any year
- If you supply goods for a turnover exceeding €75,000 in any year
- If you make distance sales into Ireland from abroad exceeding certain limits
- If you are a foreign unregistered trader doing business in Ireland above certain limits
Types of Clients we help:
- Registered Unlimited Businesses – Individual Sole Traders, Consultants, Contractors, Tradesmen
- International trading companies
- Service companies, such as I.T professional service companies
- Limited Companies, Partnerships, Trustees