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Ireland Declares Open Discussion on VAT Invoicing and Reporting Systems

According to the announcement in the Statement on Budget 2024 made on 10 October 2023, the Revenue Commissioners will launch a Public Consultation on which Stakeholders can submit their opinions on modernizing Ireland’s VAT Invoicing and Reporting System.​The consultation period, which was initiated by Minister of Finance Michael McGrath, will be available for public input from October 13, 2023, until January 12, 2024.​ Using ​​ a modernized system can make it easier for businesses to follow tax rules and reduce fraud. Many other advanced countries​ in the EU have already adopted their process to digitize systems​, so Ireland can learn from their experiences​ and will exchange their current system with the most efficient  and digitize VAT Invoicing and Reporting System​.

​Apart from the newly launched modernized e-Invoice system in Ireland has already adopted the use of Peppol​ framework for e-Invoice exchanging  from April 2020​. Old regulation only covers transactions between business- to-public entities(B2G), ​obliged to ​issue and transmit e-Invoice​ according to Peppol Standards. With this Announcement, Ireland is aiming to promote the large-scale use of e-Invoicing between businesses.​ After the public consultation completed more details were expected to be clarified.

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