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

Claims by Unregistered Farmers for Refund of VAT under the VAT (Refund of Tax) (Flat-Rate Farmers) Order 2012

Revenue has issued a revised claim form VAT 58 which enables unregistered farmers to claim a VAT refund on some types of construction work and equipment.

The existing Farmer's Refund scheme covered VAT paid on the construction of farm buildings, fencing, drainage and reclamation of farmland. Since January of this year, VAT refunds are also available on “qualifying equipment” - essentially electricity generation equipment for use in a farm business.

As the Regulations have it this means equipment comprising of—

  1. a wind turbine system,
  2. a photo-voltaic system, or
  3. equipment ancillary to the systems referred to in paragraphs (a) and (b) required for storage of electricity or connection to the grid,

The equipment must be specifically named on the Triple E Product Register which can be found at: http://www.seai.ie/Your_Business/Triple_E_Product_Register/

The Order can be found at http://www.irishstatutebook.ie/pdf/2012/en.si.2012.0201.pdf and VAT 58 can be found on the Revenue website www.revenue.ie