VAT Treatment of Goods

Course description

This VAT training course specifically designed for Government Depts., Colleges, Hospitals, State & Semi-State Bodies, Local Authorities, Institutes of Technology, Universities, HSE, ETBs, Financial Institutions and Credit Unions.

Who Should Attend This Course?

• Anyone who works for a body which is exempt or partially exempt from VAT and who is responsible for the management and preparation of VAT returns
• Anyone who has to decide when foreign VAT is correctly chargeable on goods received from abroad and when it is not
• Anyone who has to self-account for Irish VAT on goods received from abroad
• Anyone who has to deal with VAT on transactions known as intra-Community acquisitions (ICAs) and intra-Community supplies (ICSs)
• Anyone who enters into supply and install contracts (fixtures or fittings) or who incurs international transport charges
• Anyone who needs to understand how to determine the correct rate of Irish VAT chargeable on goods and services

Course Content:

• The operation of the Irish VAT System
• Special VAT treatment of State Bodies; Local Authorities and Other Public Bodies
• Why organisations need to self account for Irish VAT
• VAT payable on the importation of goods into Ireland
• VAT payable on intra-Community acquisitions
• How and when to self account for Irish VAT on goods purchased abroad
• When is foreign VAT correctly payable on goods purchased abroad
• When should a foreign supplier charge Irish VAT on goods
• When not to self account even if no VAT has been charged
• Deductible and Non-Deductible VAT
• Apportionment of Input Credits
• The rules on composite supplies and multiple supplies
• VAT payable on the purchase of goods in Ireland
• VAT Rates – how to determine the correct rate of Irish VAT chargeable on the supply of goods
• The Two Thirds Rule
• VAT Invoices and Credit Notes
• Simplified Invoicing
• Invoices issued in a foreign currency
• VAT Returns and Intrastat Returns