Operation of the Travel Agent's Margin Scheme: S.I. No. 289 of 2009
The Revenue has introduced regulations (Statutory Instruments No 289) for the purposes of implementing the Travel Agent's Margin Scheme as announced in F(No2)A 2008. These Regulations come into effect on 1 January 2010.
The Travel Agents Margin Scheme in broad terms provides that from 1 January 2010 “Travel Agents” will pay VAT on the profit margin realized on the supply of the travel package.
Full details of the regulation is available at http://www.revenue.ie/en/practitioner/law/statutory/index.html#section2009