Large Corporates Within Scope for Phase One of Ireland’s VAT Modernisation Regime
- Phase One of VAT Modernisation: Starting on November 1, 2028, all VAT-registered large corporates in Ireland will be required to issue e-Invoices for domestic B2B transactions and report specific data to Revenue, as part of Ireland’s phased implementation of the EU’s VAT in the Digital Age (ViDA) reforms.
- e-Invoicing Requirements: Only structured electronic formats, such as XML files compliant with the EN16931 European Standard, will be accepted as e-Invoices, while unstructured formats like PDFs will not meet the new requirements, aiming to enhance compliance and reduce fraud.
- Future Phases and Preparations: Following Phase One, Phase Two will extend obligations to all VAT-registered businesses involved in cross-border EU B2B transactions in November 2029, and Phase Three will begin on July 1, 2030, aligning with the full implementation of the ViDA Directive across the EU. Revenue encourages businesses to start preparations now to meet these upcoming requirements.
Source mccannfitzgerald.com
- Revenue has defined a “large corporate” for Phase One of Ireland’s VAT Modernisation as any VAT-registered business managed by Revenue’s Large Corporates Division, regardless of turnover or employee numbers.
- From 1 November 2028, these large corporates must issue structured electronic invoices for domestic B2B transactions and transmit specific invoice data electronically to Revenue.
- All VAT-registered businesses in Ireland, regardless of size, must be able to receive structured eInvoices from that date.
- Affected businesses should prepare by reviewing invoicing systems, ensuring ERP data accuracy, and engaging with software providers for compliance.
- Revenue will provide further guidance and communicate directly with impacted businesses as implementation progresses.
Source: meridianglobalservices.com
Briefing Document & Podcast: E-Invoicing & E-Reporting in Ireland – VATupdate
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
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