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

Revenue Guidelines on VAT Fraud

Revenue has published guidelines on the consequences of becoming involved in a set of transactions connected with a VAT fraud.

The guidelines include a warning that taxpayers could lose entitlement to a VAT input credit or may be liable for Irish VAT on previously zero-rated intra-community supplies where the related transactions are connected with fraud.

Revenue also advise in the guidelines that due diligence should be undertaken when entering into a business transaction and set out some risk indicators.

The guidelines are published in Chapter 16 of the VAT Manual.