Pearse Trust Blog

Ireland has won a case taken by the EU Commission against it for allowing holding companies and other non-taxable persons to be included in a VAT group.

VAT compliance and filing is an area of tax involving routine and frequent returns to the tax authorities.  Where effective and consistent procedures are adopted the administrative burden of VAT compliance on the taxpayer can be managed very well.

This is a guest post written by Ruth Skehan of Fitzwilliam Tax Consultants

Generally, an Irish company will purchase commercial property to use for the purposes of its business while the purchase of residential property by an Irish company will not necessarily be for business reasons.

The Irish Government has in its recent December budget announced an increase in the standard rate of VAT in Ireland from its current 21% to 23% with effect from 1 January 2012. Many other EU countries have also increased their VAT rates over the past two years.

There are a number of reasons why a business may cease to trade, for example:

VAT legislation recognises two types of agents; disclosed and undisclosed.

Mandatory E-Payments Of Tax

Since 1 June 2011, any company making an Irish tax payment (of whatever tax type) must effect the payment via the Revenue Commissioners' Online Service ("ROS").  The company must have an Irish bank account from which the payment will be taken.  Where the company does not have an Irish bank account, the payment may be made by the tax agent but again through an Irish bank account.

Since the establishment of the EU single market in 1993 the VAT treatment of trade  between EU and Non-EU countries is subject to different rules to intra-community and domestic trade.