VAT Compensation Scheme
Calculation of payment by the Revenue Commissioners
The annual amount available under the scheme is capped at €5m. The amount that Revenue will pay out to each charity will depend on the:
- total amount correctly calculated
- annual amount available for the scheme
- total demand from all applicants.
The system calculation to decide repayment amounts will take place after a review process has been finalised.
There are several factors which affect the amount which can be paid to each applicant. As a result of this the pay-out calculation will only be done once.
It is not possible to recalculate the pay-outs or to accept late applications as this would affect the operation of the scheme.
Next: When and how will payment be made?