- Ireland is updating its invoicing and VAT reporting systems
- The focus is on mandatory electronic invoicing for intra-community transactions
- Plans include standardized digital reporting and real-time VAT reporting through Continuous Transaction Controls
- A public consultation was held in 2023 to gather feedback, with a report expected soon
- Electronic invoicing is currently optional but may become mandatory
- The changes aim to improve efficiency, compliance, and record-keeping for VAT-registered businesses
- Electronic systems must generate, store, and archive records in compliance with VAT regulations
- Records must be accessible to Irish Revenue and reproducible in paper or electronic formats
- Electronic records should be organized and maintain integrity, authenticity, and a reliable audit trail
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
