Type: Trend
The Irish Revenue Office will conduct a review of the requirements for digital VAT invoice reporting and how to modernize VAT reporting. This includes ongoing tax audits (live invoice reporting or e-invoicing). This would add transaction-level reporting to the existing VAT return requirements.
Digitization of transaction reporting would offer the chance to simplify tax reporting, and help close VAT Gap, lost revenues from errors and fraud.
Effective date: Not applicable