Ireland Tax Agency Issues VAT Notes for Guidance on Finance Act 2024

The Irish Revenue Commissioners Dec. 4 issued Revenue eBrief No. 297/24, and the VAT Notes for Guidance on Finance Act 2024. Topics covered include: 1) an increase in VAT registration thresholds to 85,000 euros (US$89,742) from 80,000 euros (US$84,463) for goods, and to 42,500 euros (US$44,871) from 40,000 euros (US$42,231) for services; 2) the application of the 9 percent VAT rate to the supply and installation of low emissions heat pump heating systems; 3) an extension regarding the application of the 9 percent VAT rate on the supply of gas and electricity until April 30, 2025, effective Oct. 2, 2024; ...