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e-commerce site & Vat

  • 02-09-2008 11:34am
    #1
    newwifey
    Registered Users, Registered Users 2 Posts: 179 ✭✭


    Hi
    Can anyone tell me what the rules are in relation to trading as an ecommerce business and vat?
    Am i obliged to register for vat if my turnover is below the relevant cut off point?


Comments

  • #2
    aidan.connolly
    Registered Users, Registered Users 2 Posts: 250 ✭✭aidan.connolly


    Hi,
    Based on the limited information provided, if you are selling goods in Ireland including over the internet and do not go above the limit 70,000.00 you are not obliged to register for vat.
    You are still required to pay vat on your purchases and you wont be able to recover it.

    The revenue have just published a new Vat Guide which can be downloaded from their site www.revenue.ie

    Good luck


  • #3
    newwifey
    Registered Users, Registered Users 2 Posts: 179 ✭✭newwifey


    Hi Aidan
    Thanks for your reply.
    Sorry the op was short on detail, had 2 minutes to post.
    Our web store will sell wedding favours and we will be targeting mainly the Irish market but will not turn European or International customers away!
    Does this still leave us unobliged to register?
    Won't be complaining when the turnover reaches 70K


  • #4
    sawilson2003
    Registered Users, Registered Users 2 Posts: 37 ✭sawilson2003


    The VAT threshold for the supply of goods is €75,000, selling within the EU has no impact on this.

    'An accountable person established in the State is not required to register for VAT if his or her turnover does not reach the appropriate threshold above. However, they may elect to register for VAT'

    The main disadvantage of choosing to register is that added paperwork, submitting returns, and keeping complete VAT records.

    The main advantage is that you would be able to claim the VAT element on your purchases, which can be considerable when starting out.


  • #5
    aidan.connolly
    Registered Users, Registered Users 2 Posts: 250 ✭✭aidan.connolly


    Hi,

    Sawilson2003 is correct the level is indeed 75,000. ( slip of the keys ) .

    Good luck with your venture.


  • #6
    Heisenberg.
    Registered Users, Registered Users 2 Posts: 7,541 ✭✭✭Heisenberg.


    This post has been deleted.


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  • #7
    newwifey
    Registered Users, Registered Users 2 Posts: 179 ✭✭newwifey


    Thanks all for your replies.
    I just could not find a straight answer to my question on the revenue site.
    Thanks for clarifying.
    Scientist, site won't be live till december. Have spent the last 12 months sourcing products that are different to all available in ireland and the uk so hope to get a good slice of pie!
    Will definately post a link when site is up.
    Thanks again


  • #8
    Steve Thomas
    Closed Accounts Posts: 9 ✭Steve Thomas


    this one is really a tough market, i was trying on site that was given for revenue


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