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

Revised Pharmacists Scheme for VAT

Details on the revised Pharmacists Scheme for VAT which is for use by pharmacies whose annual Vatable turnover is less than €1.5 million was published in Revenue's eBrief No. 41/12.

The revised Pharmacists Scheme for VAT follows discussions between Revenue and the Irish Pharmacy Union (IPU) in relation to a scheme that better reflects how pharmacies operate. The scheme operates by marking-up purchases for resale at the positive VAT rates to arrive at corresponding sales at these positive VAT rates.

Full details are set out in Revenue's eBrief No. 41/12 which is available on here.