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Indirect Tax Matters Newsletter

August 2020 Edition

In this edition of Indirect Tax Matters, we provide you with Deloitte commentary on topical Indirect Tax issues including articles on responding & recovery from an Indirect Tax perspective which we hope you find insightful.

Our first article expands on the various points to note and actions required to deal with the recently announced temporary reduction, in the standard VAT rate to 21%.

We work through the technical issues and practical implications of 56B authorisations focusing on some of the benefits and common pitfalls for companies that hold this very useful authorisation. 

January 2021 will see VAT and customs changes applying to trade with the UK, we remind readers of the importance of obtaining an EORI registration and also key actions from a VAT/Customs perspective.

Recent case law has brought VAT ‘establishments’ and rules regarding the Place of Supply back into focus – we explain the difference between VAT Permanent and Fixed establishments and when these are relevant.

Our regular update on recent Irish and EU VAT caselaw includes comments as to their implications for business and articles on recent EU VAT cases. We also note and comment on recent updates issued by the Irish Revenue Commissioners on VAT and RCT matters.

Our Indirect Tax team in Deloitte Ireland are acutely aware of the complex issues challenging businesses domestically and globally. Indirect Tax Matters is designed to provide insights to assist you in meeting those ever evolving challenges.

1. 6 month temporary reduction to the standard rate of VAT

All sectors will be impacted by this temporary change to 21%, action needs to be taken immediately in readiness for the rate reduction, in particular from a tax coding, system capability and invoicing perspective.

2. Importance of EORI Registration

Securing your EORI number is an important step in the journey to being Brexit ready, one which will allow traders a smoother transition in trading with the UK once they officially depart the EU.

3. Do you hold a current Section 56 Authorisation

Section 56 Authorisations are due for renewal soon and this article will serve as a useful overview of the practical requirements and implication of holding a VAT56 authorisation.

4. Place of supply and importance of VAT ‘Establishments’

To charge VAT or not to charge VAT, that is the question. First you need to consider the place of supply rules – do you also need to then confirm if the services are being provided to, and received by, a fixed or permanent?

5. Post Brexit Impacts from 1 January 2021

As time slips by with many issues occupying the mind, various tax measures relating to Covid19, VAT rate changes, impact of working from home, etc we offer a brief summary and action points businesses have to action now to prepare for the impact of Brexit from an Indirect Tax/Customs perspective.

6. Recent Irish and Court of Justice of the European Union Cases

Learn how CJEU cases could potentially impact your business with our brief synopsis of some of the more recent decisions.

7. Irish Revenue Updates

Discover our insights as we reflect on ‘ebriefs’ and guidance notes issued by the Irish Revenue Commissioners on Indirect Tax issues.

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