- The Revenue Commissioners are seeking input from stakeholders on how to modernize Ireland’s VAT reporting system through a public consultation.
- The focus is on introducing real or near-real-time digital reporting of transactions, supported by electronic invoicing for B2B and B2G transactions.
- This move is in response to the European Commission’s VAT in the Digital Age proposal, which seeks to introduce e-invoicing for cross-border B2B and B2G transactions.
- The changes will require system and data improvements for most businesses and will have a significant impact on how they meet their VAT compliance obligations.
Source Deloitte
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