Revenue has published guidance in order to raise awareness of the risks for taxpayers of participating in transactions involving VAT fraud and to provide guidelines to help taxpayers to avoid becoming involved in such illegal transactions.

The guide provides some useful tips when establishing trading relationships with customers and suppliers and also some risk indicators to look out for. Taxpayers who are found to be knowingly linked to VAT fraud can be denied input VAT credits, denied the right to zero-rate the intra-Community supplies to purchasers involved in fraud and can even be jointly and severally liable for unpaid VAT.

Revenue eBrief No. 82/16 on here contains more details and the updated VAT manual can be found on the Revenue website.