Taxpayers are normally required to make a VAT adjustment where they have reclaimed VAT charged on purchases where they have not paid the vendor within 6 months of deducting the VAT. This concept is known as the “Six months adjustment rule”.
Finance Act 2013 introduced this treatment. From 1 January 2014 Section 62A of the VATA 2010 obliges the taxpayer to adjust the deducted VAT when transactions remained unpaid after 6 months.
Source Deloitte
Latest Posts in "Ireland"
- Minister Warns Hotels: Stop Price Gouging or Risk Losing Tax Relief in Upcoming Budget
- Updated Guidelines for VAT Registration: Turnover, Registration Thresholds, and EU VAT SME Scheme
- New VAT Guidance Issued for Broiler Chicken Services Effective September 2025
- Monaghan Farmers Face Rising Costs as New VAT Rules Threaten Poultry Industry
- Transport Firm Loses €112,509 VAT Dispute Over Taxi Rental Services with Revenue Commissioners
