A Practical Guide to Value-Added Tax

18th July 2017

Posted In: WMB Advice

The contribution of value-added tax (VAT) receipts to the Irish Exchequer is substantial; approximately one-quarter of the entire annual Exchequer revenue is now made up of VAT.

VAT impacts on all businesses and it does not discriminate in terms of scale – the same issues affect businesses large, medium and small. In this new practical book, A Practical Guide to Value-added Tax, Finbarr O’Connell and Ethna Kennon of KPMG, two expert and experienced authors discuss and explain the main VAT issues regularly encountered by Irish businesses and their advisors.

VAT law is full of grey areas where good arguments can be made for completely different VAT treatments for the same transactions. The answers to  questions can have a fundamental impact on the VAT treatment applied to a transaction and yet it is easy to find examples where these issues are not clear-cut. Consequently, VAT is a tax with which business managers and many professional advisors are not comfortable. However, like it or not, VAT is a tax that businesses cannot afford to ignore.

A Practical Guide to Value-added Tax is published by Chartered Accountants Ireland and is available in all good book shops nationwide and in the online shop.