Vat on Commericial farming

jakestevens81

Quick question, what kind of commericial farming is exempt from Vat on it's sales?

Or are all exempt?

swanvill

Hi,

Here is a link regarding VAT for agricultural services, towards the bottom give the rate for each activity.

http://www.revenue.ie/en/tax/vat/leaflets/agricultural-services.html

Below is the link for the VAT guide book

http://www.revenue.ie/en/tax/vat/leaflets/index.html

To Be Honest VAT is not my thing but you should look at page 136 section xiii & page 139 /140 about the supply of food at zero rate.

Perhaps if you gave some more detail about the services/goods I might be able to find the appropriate vat rate for you.

Just found this by using google regarding woodlands, it maybe of some help to you www.forestryyearbook.ie/articles/yb_article_7.pdf obviously you will have to do your own checking to ensure its validity as written in 2007.

All commercial farming is exempt from Vat on it's sales.
A farmer can elect to register for vat if they want to but they don't have to.
Grain farmers usually do as there is a high vat cost in their inputs in sprays etc.

Cattle and milk sales[and some others] actually get a vat refund of approximately 4% added to them to compensate for the fact that they are a business that cannot [unless they voluntarally register] claim back VAT.

If they register,they have to return the vat compenation to the revenue in their vat returns

jakestevens81

thanks lads