Chartered Accountants Ireland as a member of CCAB-I recently wrote to the Minister for Finance requesting that the postponed method of accounting for VAT for importers be introduced into Irish VAT legislation in light of the impending departure of the UK from the EU. We outline how the introduction of such a measure would substantially ease the cash flow burden on Irish businesses and facilitate freer trade.

In the letter we also highlight the reduced administrative burden for businesses and Revenue and how the postponed method of accounting for VAT could make Ireland more attractive for large companies who wish to set up a base in the EU.

You can read our letter here.