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Starting a new business - Start your own business - Oliver Niland Chartered Accountant  & Tax Specialist Galway Ireland

Who has to register for VAT ?

Who has to register for VAT ?

Who has to register for VAT?

Value-Added Tax (VAT) registration is obligatory when your annual turnover exceeds or is likely to exceed the VAT thresholds below

The threshold in relation to distance selling is based on your turnover in a calendar year. In all other cases, the threshold is based on your turnover in any continuous 12 month period.

If you are below the thresholds you may elect to register for VAT.

The principal thresholds are as follows:

  1. €37,500 in the case of persons supplying services only.
  2. €35,000 for taxable persons making mail-order or distance sales into the State.
  3. €41,000 for persons making acquisitions from other European Union Member States.
  4. €75,000 for persons supplying goods.
  5. €75,000 for persons supplying both goods and services where 90% or more of the turnover is derived from supplies of goods. However, while all goods and services are included in total turnover, the 90% figure does not necessarily include all goods sold. The 90% does not include goods sold at the standard or reduced rates which those persons have manufactured or produced from zero rated materials.
  6. A person who, while not established in the state, supplies taxable goods or services in the State, is obliged to register and account for VAT. This applies irrespective of the level of turnover.

Any queries on the above give me a call on the above on 091 763817 or email me at oliver@taxreturnhelp.ie

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