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Vat related question

  • 11-01-2017 5:27pm
    #1
    vagabond2013
    Registered Users, Registered Users 2 Posts: 77 ✭✭


    If I buy a truck in the UK and I am not charged VAT due to providing an Irish vat number, do I still charge VAT to the person I am selling it too and if so at what rate ?


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    vagabond2013 wrote: »
    If I buy a truck in the UK and I am not charged VAT due to providing an Irish vat number, do I still charge VAT to the person I am selling it too and if so at what rate ?

    You are liable to pay the VAT yourself. This is called the Reverse Charge. As per the Revenue website:

    VAT is not payable on such acquisitions at the point of entry to the State but is, instead, accounted for under a system of postponed accounting. The accountable person is required to account for VAT on any intra-Community acquisition at the appropriate Irish VAT rate for the period in which the goods were acquired.

    from here: http://www.revenue.ie/en/tax/vat/guide/eu-acquisitions.html#section8

    You still have to charge at the standard rate on the sale of the vehicle


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