- “Large corporates” for VAT Modernisation Phase One are VAT-registered businesses managed by Revenue’s Large Corporates Division, established or with a fixed establishment in Ireland, and with annual revenue over €350 million.
- From 1 November 2028, these corporates must issue structured electronic invoices for domestic B2B transactions and report certain transaction data to Revenue in real time.
- All Irish businesses must be able to receive structured electronic invoices; PDFs or scans are not compliant.
- Businesses are advised to prepare by reviewing systems, engaging with software providers, and planning necessary adjustments.
- This initiative is part of the EU’s VAT in the Digital Age (ViDA) reform, with broader EU requirements starting July 2030.
Source: globalvatcompliance.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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