- Ireland’s tax collection agency has launched a public consultation on modernizing the VAT invoicing and reporting system.
- The consultation will focus on transitioning B2B and B2G transactions to real-time digital VAT reporting supported by mandatory e-invoicing.
- The proposed reforms aim to make it easier for businesses to meet their VAT obligations and bring Ireland’s system in line with digital advances.
- The Irish tax agency seeks input from businesses, accountants, software providers, and other stakeholders on developing a new real-time digital VAT reporting system alongside mandatory e-invoicing.
- The public consultation period will run from October 13, 2023, to January 12, 2024.
- The consultation paper provides context and includes questions for stakeholders’ general views on real-time reporting and e-invoicing, as well as questions for businesses about their operations.
- The Irish tax agency will analyze responses to inform further stakeholder engagement as the new system is developed.
Source: invopop.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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