A new Tax and Duty Manual – VAT – Postponed Accounting – has been published. It contains information on the procedures, conditions and operation of Postponed Accounting by accountable persons who import goods into the State from third countries.
- Postponed Accounting arrangements may be applied to all imports from all third countries including Great Britain (UK not including NI).
- All accountable persons in Ireland who acquire goods from countries outside of the European Union VAT area, may use the Postponed Accounting arrangements.
- All accountable persons who are registered for VAT and Customs & Excise (C&E) at 11:00pm on 31 December 2020 will be given automatic entitlement to Postponed Accounting; therefore, there is no requirement for these traders to apply for Postponed Accounting.
- VAT registered traders who are not registered for C&E at 11:00pm on 31 December 2020 who wish to import goods into Ireland from that point in time must register for C&E, see C&E Economic Operators Registration Identification (EORI) Number – Registration on ROS for further guidance. Once registered for C&E, they will be given automatic entitlement to Postponed Accounting.
- All new applicants for VAT Registration who wish to avail of Postponed Accounting should refer to Guidelines for VAT Registration.
Source: revenue.ie
