Ireland's tax collection agency has launched a public consultation on modernizing Ireland's Value-Added Tax (VAT) invoicing and reporting system.
The consultation will focus on transitioning Business-to-Business (B2B) and Business-to-Government (B2G) transactions to real-time digital VAT reporting supported by mandatory electronic invoicing.
The goals of the proposed reforms are to make it easier for businesses to meet their VAT obligations and bring Ireland's system in line with digital advances. The Irish tax agency seeks input from businesses, accountants, software providers, and other stakeholders on developing a new real-time digital VAT reporting system alongside mandatory e-invoicing between businesses and the government.
The public consultation period will run from October 13, 2023, to January 12, 2024. The consultation paper provides context, while the questions cover stakeholders' general views on real-time reporting and e-invoicing and questions for businesses about their operations. The Irish tax agency will analyze responses to inform further stakeholder engagement later in 2023 and 2024 as the new system is developed.