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VAT Amendments

The top rate of VAT has fallen from 21.5% to 21% from 1 January 2010. While this decrease will not reverse the Northern shopping trend it will bring the VAT rate somewhat in line with that of the UK, which will increase from 15% to 17.5%. Revenue has published a guide to the rate change on www.revenue.ie.Revenue has published new legislation on a 2010 VAT Package that will amend the treatment of cross border supplies of services from 1 January 2010. The new Place of Supply VAT rules are summarised in the table below. A more detailed guide is available on www.revenue.ie:

Country of establishment of supplier Country in which customer established Status of Customer Place of supply Person liable to account for Irish VAT
Ireland Other EU State Business Other EU State No Irish VAT
Ireland Other EU State Private Ireland Supplier
Ireland Outside EU Business Outside EU No Irish VAT
Ireland Outside EU Private Depends on the nature of the service Supplier (if VAT occurs)
Other EU State Ireland Business Ireland Business Customer
Other EU State Ireland Private Other EU State No Irish VAT
Outside EU Ireland Business Ireland Business Customer
Outside EU Ireland Private Depends on the nature of the service Depends on the nature of the service – if taxable in the State – the supplier

Revenue has provided additional guidance on their website relating to when VAT may be claimed on bad debts. Revenue has advised that the expiry of a creditor’s trade credit period is not sufficient to regard the debt as ‘bad’ for VAT purposes. In order to claim VAT on the write-off of the bad debt the taxpayer must be able to demonstrate that they took all reasonable steps to recover the debt. Revenue may review correspondence with the creditor in assessing if the VAT claim is allowable.

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