Press release
Minister McGrath welcomes Revenue’s launch of public consultation on VAT modernisation
From Department of Finance; Office of the Revenue Commissioners
Published on
Last updated on
From Department of Finance; Office of the Revenue Commissioners
Published on
Last updated on
In line with the Minister for Finance Michael McGrath's commitment in his Budget speech, today the Revenue Commissioners have launched a Public Consultation on how Ireland can use digital advances to modernise Ireland’s Value Added Tax Reporting System.
As indicated by the recent report of the Commission on Taxation and Welfare, and the European Commission’s recent proposals for VAT in the Digital Age, which relate to streamlining VAT reporting approaches within the EU, this is an opportune time to consider how the government can help Ireland work smarter.
Modern taxation is about automated taxation and the government is committed to positioning Ireland as a digital leader at the heart of European and global developments. The focus of this initial consultation is the modernisation of Business to Business (B2B) and Business to Government (B2G) VAT reporting, supported by electronic Invoicing (eInvoicing).
This initial consultation therefore focuses on transactions between VAT registered entities, and does not consider Business to Consumer (B2C) transactions.
The public consultation process will run from 13 October 2023 to 12 January 2024. Further information on how to respond to the consultation is available on the Revenue website.
Minister McGrath commented:
“With the continued advancement of technology, it is important that the State continuously assesses its current operations to ensure that we are keeping pace with that advancement and that we are fully availing of the opportunities available.
"Therefore, I welcome today’s announcement from the Revenue Commissioners launching a public consultation on updating and modernising Ireland’s VAT system, which represents an important start on this significant body of work. I would encourage businesses and their representatives to engage with the public consultation and to have their say in the development of the future of VAT reporting and VAT invoicing processes.”