Consultation on "modernising" Ireland's administration of Value-Added Tax

[WizardDr]

I am always concerned with Revenue's use of the word 'modernisation' when essentially they add to the burden of businesses particularly small businesses which apparently provide most of the jobs in the economy.

The closing date for submissions is unfortunately 31/01/2024 but if you are involved in a small business please have a look and be aware.

Essentially one of the 'features' that Revenue is adopting (in what could be described as abuse of technology) is 'real time' reporting and its not really clear what the benefit of this compared to the current regime.

Modernising Ireland's administration of Value-Added Tax (VAT)

This public consultation focuses on how we can use digital advances to modernise Ireland's VAT Invoicing and Reporting System.

www.revenue.ie

 

[torblednam]

I am always concerned with Revenue's use of the word 'modernisation' when essentially they add to the burden of businesses particularly small businesses which apparently provide most of the jobs in the economy.

The closing date for submissions is unfortunately 31/01/2024 but if you are involved in a small business please have a look and be aware.

Essentially one of the 'features' that Revenue is adopting (in what could be described as abuse of technology) is 'real time' reporting and its not really clear what the benefit of this compared to the current regime.

Modernising Ireland's administration of Value-Added Tax (VAT)

This public consultation focuses on how we can use digital advances to modernise Ireland's VAT Invoicing and Reporting System.

www.revenue.ie

Got to move with the times Wiz..!

Important to note at the outset that this is focussed solely on B2B (business to business) and B2G (business to government) transactions, not on goods or services to consumers. Although, obviously, it will be intended that will follow in due course.

What fresh burdens do you believe real time (and hence largely automated) reporting will impose on business; I would have thought that a well devised system would reduce burden (or result in little net difference).

 

[Brendan Burgess]

Hi Dr.

Do you have any direct experience of small businesses and VAT reporting?

I could read this consultation and make a submission but I have no practical experience.

I would leave it to accountants and representative organisations to determine if it's more or less efficient.

In general, Revenue's modernisation has worked well over the years.

ROS is brilliant for example.

Brendan