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Sign up today to register your company for VAT in the Republic of Ireland for £150. In all situations, we aim to provide the most cost-effective and comprehensive services. Take a look at the other services we offer: |
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VAT Registration in Ireland: Click here
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Let us register your Irish company for VAT, only £150:
Value Added Tax (VAT) is a general consumption tax charged on most business transactions made in Ireland, and is assessed on the value added to goods and services. This tax applies to all commercial activities involving the production and distribution of goods and the provision of services, and it is charged as a percentage of the price, meaning that the actual tax burden is visible at each stage in the production and distribution chain.
If you wish to register for VAT, a VAT registration form needs to be completed. Coddan can provide all of the necessary assistance to complete this form efficiently and accurately. The requirement to register for VAT is determined mainly by your business trade and not necessarily the country where your business resides. Upon registration, the Irish inland revenue will issue a VAT registration number to an applicant if they are satisfied that the person is carrying on a taxable business in the State.
Who must register for VAT?
Your company must register for VAT in Ireland if you are a taxable person and your annual turnover (i.e. the amount of your receipts excluding VAT) exceeds or is likely to exceed an annual limit of €51,000 in respect of the supply of goods or €25,500 in respect of the supply of services. You may also be obliged to register for VAT if you receive taxable services from abroad or if you are a foreign trader doing business in the State. If you are involved in buying or selling goods within the EU you will need more detailed information from Ireland’s inland revenue division. To register for VAT you must fill in either the TR1 if you are trading as an individual or partnership, or a TR2 if you are trading as a company. Registration is effective from the date on which the application for registration is processed, or from such earlier date as may be agreed between the Inspector and the applicant. Any changes in the particulars supplied by a trader for the purposes of registration must be provided to tax authorities within 30 days of the change.
Also, a person who is setting up a business, but who has not yet commenced supplying taxable goods or services, may register for VAT as soon as it is clear that the company will become a taxable entity. This will enable that company to obtain credit for VAT on purchases made before trading actually commences.
VAT Rates:
The standard rate of VAT is 21%, and it applies to all goods and services that are not exempt or liable at the zero or reduced rates. A reduced rate of 13.5% applies to items, such as certain fuels, buildings and building services, and certain newspapers, while a different reduced rate of VAT (4.4%) may apply to livestock or other types of animals. Finally, a zero-rated VAT percentage includes exports, certain food and drinks, oral medicine, and various other items. For further details and clarification, it is most beneficial to contact Ireland’s inland revenue office.
Taxable persons:
Individuals, partnerships, or corporate entities are obliged to be registered for VAT when their annual turnover from supplies of taxable goods and services, or the value of whose acquisitions of goods from other Member States of the European Union, or of certain services received from abroad, or of certain received cultural and entertainment services, exceed or are likely to exceed certain limits. While persons whose turnover from taxable activities does not exceed these limits are not obliged to register, they may register for VAT if they so wish. A taxable person is one who, when conducting business, does the following:
 Supplies taxable goods or services in the State,
Makes intra-Community acquisitions of goods in the State,
Receives taxable “Fourth Schedule” services (i.e. listed in the Fourth Schedule to the VAT Act, 1972 (as amended)) from abroad, or
Receives cultural, artistic, entertainment or similar services provided by a person not established in the State.
Thresholds:
VAT registration is obligatory when certain turnover thresholds are exceeded, or are likely to be exceeded, in any twelve month period. The principal thresholds applicable are as follows:
€25,500 in the case of persons supplying services,
€25,500 for persons supplying goods liable at the 13.5% or 21% rates which they have manufactured or produced from zero rated materials,
€35,000 for persons making mail-order or distance sales into the State,
€41,000 for persons making intra-Community acquisitions,
€51,000 for persons supplying goods,
€51,000 for persons supplying both goods and services where 90% or more of the turnover is derived from supplies of goods, and
A non-established person supplying taxable goods or services in the State is obliged to register and account for VAT irrespective of the level of turnover.
A taxable person established in the State is not required to register for VAT if his or her turnover does not reach the appropriate threshold above. However, they may opt to register for VAT.
“Fourth Schedule” Services:
Persons who receive from abroad for business purposes any of the taxable services, such as hiring or leasing of certain goods, advertising, consultancy, copyright, data processing, engineering and the provision of information, telecommunications services, the provision of staff and certain other services, are obliged to register for, and pay, VAT in respect of all services, regardless of value. For VAT purposes, the recipient of such services is regarded as the supplier of the services to himself or herself. Traders should remember that no threshold applies in these cases.
Cancellation of registration:
A person who has opted to register for VAT may, subject to conditions which may include the repayment of any excess of VAT deductions over payments, cancel their registration by arrangement with the local inspector of taxes. Similarly, a person whose turnover has fallen below the appropriate turnover threshold may have the registration cancelled. A person ceasing to trade should notify the inspector of taxes of this fact so that the VAT registration number may be cancelled promptly. If VAT registration is not cancelled in this case, return forms and demands for estimated VAT liability will continue to issue automatically. Tax authorities will also cancel a person’s VAT registration if they have been registered in error, or, alternatively, have ceased to be a taxable person. In circumstances where a person decides voluntarily to register for VAT, a cancellation of registration may give rise to recovery by tax officials of all, or some, of the net VAT repaid to the person during the period of election.
Group registration:
In the case that the Irish tax authorities foresee that administrative efficiencies may be possible, and that no loss of VAT is involved, they may approve a group of persons established in the State, such as a number of companies which are closely bound by financial, economic and organisational links, as a single taxable person. This type of arrangement generally removes the necessity of issuing VAT invoices in respect of inter-group transactions (except in the case of certain property transactions). While one person or company in the group will be responsible for compliance with all VAT requirements for the whole group, each person, or company, in the group will be jointly and completely liable in the event that such compliance is not achieved. Any group wishing to undergo group registration procedures should apply to the local inspector of taxes. If, subsequent to the approval of a group registration, a new company is to be included in the group, permission for inclusion in the group registration must be obtained from the inspector of taxes.
As much as possible, Coddan aims to provide you with the tools you need to move forward with your Irish company formation. Whether you want to form a new company, ask us about assistance with VAT registration, or request further general information, contact us today.
Register for VAT in the Republic of Ireland: Click here
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