VATupdate

Do you hold a current Section 56 Authorisation?

Many manufacturers based in Ireland utilise a relief known as a 56B authorisation to obtain goods and services at a VAT rate of 0%. Often referred to as a ‘13B’ in reference to the 1972 VAT Act, 56B authorisations are seen as a very beneficial relief for companies whose main income derives from the sale of goods that move away from Ireland when sold.

In this article, we work through the technical issues and practical implications of 56B authorisations focusing on some of the benefits and common pitfalls for companies that hold the authorisation.

Source Deloitte

 

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