Ireland to restrict VAT credits
- 18 July 2014 | Richard Asquith
The Irish Revenue Commissioners has confirmed that it is to restrict the repayment of VAT credits where there are balances of previous tax liabilities outstanding.
Where Irish VAT registered businesses submit a VAT credit claim, which is where they have an excess of input VAT over output VAT, if they have an annual outstanding Return of Trader Details filing due with tax, then the credit will not be processed.
The Commissioners have also issued a new Return of Trader Details form.