Reduction in VAT rate for certain goods and services

Finance (No. 2) Act 2011 has introduced a reduced VAT rate of 9% for certain goods and services for the period 1 July 2011 to 31 December 2013. The new rate applies to certain goods and services previously liable at 13.5% including: restaurant and catering services hotel and holiday accommodation admissions to cinemas theatres certain musical performances museums and art gallery exhibitions the use of sporting facilities hairdressing services As […]

VAT on Property

With effect from 1 July 2008 new rules were introduced in relation to VAT on property.¬† Below is a brief summary of these rules. Supply of property Under the new rules, in order for the supply of a property to come within the charge to VAT the property must have been developed and must be supplied for consideration in the course of business. The supply of a completed property is […]

EU VAT repayment claims

The present system of recovering VAT on business expenses incurred in other EU countries is cumbersome, as it is carried out manually and applications must be made to the Revenue authorities in each country. Electronic processing is being introduced on 1st January 2010.¬†This will enable taxpayers and their agents to file claims electronically to the Irish Revenue, using ROS. Revenue will then forward the claims to the tax authorities of […]