The VAT Practice,
The White House, Cloncorban, Rossmore, Clonakilty,
Co. Cork
Principal: Nicholas Ryan
Tel: +353 (0)23 8838181
Mob: +353 (0)83 3340324
Fax: +353 (0)23 8838181
Email : info@thevatpractice.ie
Welcome to the VAT Practice blog. Our aim is for our blog to provide you with access to: Hot topics – which features regularly updated information, ideas and comment from The VAT Practice on Irish and international VAT issues. Talk to us – businesses can provide comment on our articles in Hot Topics and enter […]
The main purpose of these campaigns is to firstly identify those businesses/persons who may have an unpaid tax liability and then provide the business with an opportunity to settle their tax account with HMRC on the best possible terms, the inference being that where a business does not elect to do so then they will be vigorously pursued and higher penalties imposed with possible criminal investigations instigated.
This brief provides for new guidance on the VAT treatment of caravan pitch rentals largely to confirm that the exemption only applies to pitches for caravans used as private residences. Pitches used for holiday/leisure or with restrictions on occupation or were provided for less than a year are subject to VAT at the standard rate. This change applies from 1 March 2012.
China has commenced its VAT pilot scheme prior to introducing VAT nationally. The pilot scheme is being run in Shanghai using a range of VAT rates including 0%, 6%, 11% and 17%.
The increase in the standard rate of VAT had been signalled and businesses will need to consider the impact of this change for the supplies they both make and receive. There will be implications for businesses operating under both the invoice basis and the cash received basis.
For businesses supplying goods/services on the invoice basis the key issue for the business is to ensure the correct VAT rate is applied, this would be the rate in force at the time the VAT invoice is issued. Consideration here should be given to businesses who issue a pro forma invoice