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Value Added Tax (VAT)

Suppliers (either individuals or companies) whose trading turnover exceeds prescribed limits must register for, and charge, VAT at the appropriate rate. They may also reclaim any VAT paid in respect of expenses relating to the business.

The trading limits are:

·        Supplies of services                                €37500 pa

·        Supplies of products                               €75000 pa

The rate of VAT varies depending on the product/service traded. The main VAT rates are

  • 21%
  • 13.5%
  • 4.5%
  • 0%

There are also VAT Exempt products/services – for example educational and most medical services. Suppliers of these may not register for VAT, may not charge VAT, nor can they reclaim VAT

Disclaimer
The information on this website is for general guidance only.It is essential to take professional advice on specific issues about their impact on any individual or entity.No liability can be accepted for any errors or omissions or for any person acting or refraining from acting on the information provided on this site.