Ireland Proposes Modernizing Its VAT Reporting, Seeks Feedback

Ireland’s tax authority wants feedback on how to implement a system for real-time value-added tax invoicing and reporting.

The revenue commissioners’ public consultation seeks comments on modernizing business-to-business and business-to-government VAT reporting with electronic invoicing. The announcement follows Irish Finance Minister Michael McGrath’s commitment in Tuesday’s budget proposal to simplifying certain tax systems.

• The proposed VAT changes align with the EU’s VAT in the Digital Age proposal that also aims to implement mandatory digital VAT reporting and invoicing and a single VAT registration.
• The consultation asks for any matters to consider in transitioning to a new reporting system and any ...