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VAT RTD - where to put Reverse Charge Construction RCT Expenses-

Willry · 2023-09-12 08:15:41

Hi there, For the VAT 3 I understand that we put in the dummy VAT in the T1 Sales and T2 Purchases boxes thus producing an overall nil effect. The same goes for EU purchases at their corresponding rate in Ireland, had they been purchased here. In the VAT RTD in column 1 & 2 - Do we do include them in the same VAT rate…

12-09-2023 8:15am

#1

Willry

Registered Users, Registered Users 2 Posts: 1 ✭

Join Date: September 2023

Posts:

Hi there,
For the VAT 3 I understand that we put in the dummy VAT in the T1 Sales and T2 Purchases boxes thus producing an overall nil effect. The same goes for EU purchases at their corresponding rate in Ireland, had they been purchased here.

In the VAT RTD in column 1 & 2 - Do we do include them in the same VAT rate boxes or include them at ALL at ZERO RATE. The reason for asking is that it was suggested to me that the VAT RTD purpose was to strip out the dummy VAT from reverse charges and show the ACTUAL VAT that arose in the year.
Any insight would be greatly appreciated.
Thanks

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