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VAT Ireland

Tax Rates

23% (standard rate)

This applies to all goods and services that are not exempt or liable at the zero or reduced rates

13.5% (reduced rate)

This applies to certain fuels, buildings and building services, certain newspapers etc.

0%

These include exports, certain food and drink, oral medicine, certain books etc.

4.8%

This applies to livestock, live greyhounds and the hire of horses.

5.2%

Farmer’s VAT flat rate addition (from 1st Jan 2007).

Exempt

These include financial, medical and educational activities.

Extensive Listing Good & Services VAT Rates

VAT Registration Limits

Supply of goods

€70,000 (€75,000 from 1st May 2008)

Supply of services

€35,000 (€37,500 from 1st May 2008)

VAT Cash Accounting

The annual VAT cash accounting threshold for businesses is being increased from €635,000 to €1,000,000 with effect from 1 March 2007.

Tax Due

19th day of the month after the VAT period

When is VAT not deductible ?

No deduction is allowed in respect of tax paid on expenditure on the following:

(a) The provision of food, drink, accommodation or other personal services supplied to the taxable person, his agent, or his employees.

(b) Entertainment expenses incurred by the taxable person, his agent or his employees.

(c) The acquisitions, hiring or leasing of motor vehicles other than as stock in trade or for the purposes of a business which consists in whole or part of the hiring of motor vehicles or for use in a driving school business for giving instruction.

(d) The purchase of petrol otherwise than as stock in trade.

(e) Expenditure incurred on food, drink, accommodation or other entertainment services as part of an advertising service is not deductible in the hands of the person providing that advertising service.

(f) Any VAT incurred by a taxable person in a transaction where the margin or auction schemes apply.


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