Publications & Insights Time to Act - Annual VAT Recovery Rate
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Time to Act - Annual VAT Recovery Rate

Tuesday, 01 June 2021

If your business has a 31 December year end and does not have full VAT recovery entitlement, your annual VAT recovery rate review and adjustment is due to be completed and submitted to the Irish Revenue by 23 July 2021 to avoid potential interest and penalties.

This exercise applies to any business who is engaged in a mixture of VAT exempt and VATable activities across a number of different industries including financial services, property letting, healthcare, education etc. 

Our Tax Team has extensive experience in advising on, developing and reviewing VAT recovery rate methodologies and calculations for clients without full VAT recovery.

Please contact Philip Nolan, Colin Bolger or your usual ByrneWallace LLP contact to discuss how we might be able to assist you.