Keeping VAT records

What sales records do you keep?

You need to record every sale and the amount charged to your customers, including your intra-Community supplies and exports.

You should separate your sales records into the different Value-Added Tax (VAT) rates, including the exempt transactions. If you do not have a facility for separating sales VAT on transactions, there are special schemes dealing with sales to unregistered persons.

You are required to support your sales records with;

  • invoices (to registered customers)
  • sales dockets
  • sales receipts
  • cash register tally rolls
  • delivery notes
  • cash book
  • VAT information exchange system (VIES) documents
  • intrastat returns
  • stamped copies of single administrative documents (SADs) and other import documents
  • bank statements.

Revenue may issue a Notice under section 108A of the VAT Consolidation Act to an accountable person. It helps combat activity in the shadow economy. This requires them to provide specified information relating to taxable supplies made during a specified period. The specified period is a period of time of not more than two months following the issue of the Notice.

For further information on the mechanism by which this Notice operates, see Further guidance.

Next: How long do you keep records for?