Effects of cost-of-living crisis prompts extension of VAT rate cut from 13.5% to 9% to 28th Feb 2023 Ireland’s government has announced on 10 May 2022 a second extension of the reduced VAT rate on restaurant, cafe, catering and tourism services past the planned deadline
VAT liabilities on mining, exchange and consideration role for cryptocurrencies and similar crypto-assets Ireland’s tax authorities, the Revenue, has confirmed the VAT and other tax obligations on virtual digital currencies, including Bitcoin and tokens. An EU review on VAT on crypto-assets is underway. Key points
Temporary domestic gas and electricity cut from 13.5% to 9% until end Oct 2022; inflation hits 40 year high Ireland will provide limited relief against fast-rising domestic fuel costs. The government will temporaryily cut VAT on domestic heating gas and electric from 13.5% to 9% between 1
E-invoicing, real-time reporting and SAF-T to be evaluated by Irish Revenue The Irish Revenue is launching a review of VAT invoice digital reporting requirements and how to modernise VAT reporting. This includes continuous transaction controls (live invoice reporting or e-invoicing) This would supplement the existing
Prolonged COVID-19 crisis results in extended VAT support The Irish government confirmed in today’s budget that is has extended the 9% reduced Value Added Tax rate on hospitality and tourism rate until 31 August 2022. This reflects the tentative opening-up of the key tourism sector following
The Irish standard VAT rate returns to 23% on 1 March 2021. The follows a temporary decrease to 21% since 1 September 2020 to help consumers and businesses during the COVID-19 crisis. The temporary cut in the tourism and hospitality services VAT rate from 13.5%
Following the introduction of Postponed VAT Accounting – a deferment scheme for import VAT – the Irish Ministry of Finance has provided further restrictions . PVA allows Irish VAT registered entities to avoid paying import VAT on goods coming into the country. It was implemented
Ireland has cut the VAT rate on electronic books from 23% to 9%. The new rate will apply from 1 January 2019. This follows agreement by the 28 EU member states to allow the setting VAT rates on e-books and audio books at the same
Ireland tax rises to support Corporate Tax rate Ireland has increased its standard Value Added Tax rate from 21% to 23% from 1 January 2012. This follows the major economic dip suffered following the 2007/08 financial crisis and subsequent Euro currency crisis. The main reduced
