How to account for Value-Added Tax (VAT)

When VAT becomes payable

You must file and pay your Value-Added Tax (VAT) by the 19th day of the month following the end of each taxable period. This should be a true and correct return furnished to the Collector-General through Revenue Online Service (ROS).

For ROS filers, the time limit for filing a VAT return is extended to the 23rd day of the month.

You may incur interest and penalties for late, or non-filing and payment, of your VAT.

What are the taxable periods for VAT?

The taxable period is a two-month period (bi-monthly) commencing on the first day of January, March, May, July, September and November. However, the Collector-General may authorise the following taxable periods:

• annual return, if you are making equal instalments by direct debit
• four-monthly returns, if your annual VAT liability is between €3,001 and €14,400
• six-monthly returns, if your annual liability is €3,000 or less.

Can I file a monthly VAT return?

Generally, monthly VAT returns are made by taxable persons in a constant VAT repayment position. Revenue may authorise a monthly VAT return, on request.

What is the Return of Trading Details (RTD)?

You must complete a Return of Trading Details (RTD) form annually. The RTD form details the total purchases and sales for the year, broken down by the VAT rate.

You must submit your complete RTD form at the end of the year. The form will be displayed in your ROS inbox.

Next: How do you complete a VAT 3 return?