Views sought on modernisation of Irish VAT system
Revenue has launched a public consultation on the modernisation of Ireland’s administration of value-added tax (VAT).
The consultation focuses initially on the modernisation of business-to-business (B2B) and business-to-government (B2G) VAT reporting, supporting by e-invoicing.
Revenue is seeking the views of all VAT stakeholders, including businesses, accounting software providers, eInvoicing providers, tax practitioners, accounting firms, bookkeepers, business and industry experts and any other interested persons.
The public consultation process runs until 12 January 2024.
Welcoming the consultation, finance minister Michael McGrath said: “With the continued advancement of technology, it is important that the State continuously assesses its current operations to ensure that we are keeping pace with that advancement and that we are fully availing of the opportunities available.
“Therefore, I welcome today’s announcement from the Revenue Commissioners launching a public consultation on updating and modernising Ireland’s VAT system, which represents an important start on this significant body of work.
“I would encourage businesses and their representatives to engage with the public consultation and to have their say in the development of the future of VAT reporting and VAT invoicing processes.”