TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Further Clarification from Revenue on the Types of Bread Subject to Zero Rate of VAT

Revenue have issued eBrief No. 23/12 and an update to their VAT Manual to clarify that bread subject to the zero rate includes sliced pans, bread rolls, batch bread, baps, naan bread and pita bread, provided they comply with the definition of bread. Bread products such as brioche and croissants are liable to VAT at the reduced rate.

Section 94 Finance Act 2012 amended the definition of bread in Paragraph 8 (1) of Schedule 2 to the VAT Consolidation Act 2010 to ensure that certain products that are commonly accepted as bread are not excluded from the application of the zero rate. Revenue's VAT Manual at Part 03–25 http://www.revenue.ie/en/about/foi/s16/value-added-tax/chpt-03/03-25.pdf?download=true has also been updated to reflect the changes introduced in section 94 and sets out full details of the revised treatment of bread products.