Indirect Tax Newsflash - August 2018

Section 56B Authorisation 

A qualifying business that holds a valid Section 56B authorisation is entitled to receive most goods and services from Irish suppliers with a zero-rate of VAT applied.  This zero rating also applies to import VAT. 

If you are a VAT registered business supplying goods to other EU countries (intra-community supplies), exporting goods to countries outside the EU or making supplies of certain contract work and these supplies amount 75% or more of your total annual turnover you may apply to Revenue to obtain an authorisation.

VAT Groups can also avail of the scheme where the group as a whole qualifies.

Revenue issue a Section 56B authorisation for periods varying from one to three years, renewable on 31st October. For businesses that currently hold an existing Section 56B authorisation, your current authorisation may be due to expire on 31st October this year.

We are happy to assist businesses who may qualify to renew or to apply for the first time for a Section 56B authorisation in the application process.                                                                          

Should you have any queries or would like our assistance obtaining a Section 56B authorisation, please contact Christopher Connolly or your usual VAT contact.

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