Ireland Tax Agency Issues Guidance on Domestic Layer of EU VAT Regime for SMEs

The Irish Revenue Commissioners Aug. 5 issued Revenue eBrief No. 153/25, providing guidelines on the domestic layer of the EU VAT regime for small and medium-sized enterprises (SMEs), effective Jan. 1. Topics covered include: 1) information on the domestic and cross-border layers of the regime; 2) the scope of the VAT exemption under the regime; 3) Ireland’s VAT registration thresholds of 42,500 euros (US$49,514) for supplying services only and for goods produced from zero-rated materials, and 85,000 euros (US$99,027) for supplying goods only or where 90 percent of turnover is from specified supplies; 4) separate VAT registration thresholds of 10,000 ...