VAT - How to Protect your Business from Becoming Involved in VAT Fraud

Guidelines on How to Protect Your Business from Becoming Involved in VAT Fraud have been published in Chapter 16 of the VAT Manual on the Revenue website. These guidelines are intended to help businesses avoid becoming involved in such illegal transactions.

The guidelines also spell out the consequences of becoming involved in a set of transactions connected with a VAT fraud, even if the transactions in which the business is involved are not themselves unlawful. In particular, involvement in a set of transactions connected with a VAT fraud could result in loss of entitlement to a VAT input credit or liability for Irish VAT on previously zero-rated intra-community supplies where the trader knew or ought to have known that the transactions were connected with fraud.

24 July 2014