Value-Added Tax is placed on practically every good and service sold in Ireland, as it is an EU member. We can help to decide whether you need to register for VAT and later help to calculate pay and reclaim VAT tax.
Few things to know about VAT.
If you are a sole trader offering services you might not need to register for VAT. However, if you are supplying services for more than 37 500 euro per year – you will have to register. Similar rules apply when you engage solely in agricultural production.
Since June 2019 there is a two tier VAT system in place. It is applied when your company makes cross border transactions. Also since the beginning of this year there is an option to use Postponed Accounting arrangements when trading with countries from outside the EU (like the UK). We will gladly help to explain what it means for your business
VAT has to be paid and filed monthly, usually up to the 19th day of each month. There are exceptions to this rule though. Interest and penalties might incur for late payment on the non-filing of VAT.