August 27, 2019
Revenue are developing a two-tier VAT registration system whereby business can apply for a ‘domestic-only’ registration or an ‘intra-EU’ registration. This change will apply only to persons applying for VAT registration after 17 June 2019.
A simplified registration process will be available for domestic-only applicants (businesses not undertaking any intra-EU trade). If your business registers for domestic-only purposes ( i.e. trade withing the State) and subsequently wish to engage in intra-EU trade, you may then submit an application for an intra-EU registration.
We at, John M Shanahan & Co, Chartered Accountants, Tullamore, Co Offaly have taken a moment to outline how it may effect your business.
Revenue have indicated on their website that you will see their new Revenue Online Service (ROS) screens after 15 June 2019, with full functionality, including the accelerated response for domestic-only applications, should be available from mid-September 2019.
In relation to new and existing VAT Registration Applicants, its worth noting:-
We at JOHN M. SHANAHAN & CO. are here to help you with all your business, financial, accounting, statutory and taxation requirements, by providing expert, specialist and professional service tailored to meet your needs.