VAT Registration
For a business, VAT registration might not be compulsory but could be favourable, depending on your needs and wills. In TRANSLIT, we are able to help you with this procedure. For any question, do not hesitate to contact our company.
According to the Irish law, you can choose to register for VAT or not as long as your revenues do not exceed the thresholds fixed in 2008 on the level of:
- €37,500 per year for services
- €75,000 per year for goods
However, even under these thresholds, VAT registration is generally beneficial for companies who have an important VAT circulation.
As a business, to be able to have your VAT deduced from your expenses, you can register your company with the Company Registration Office to get a VAT registration number.
Value Added Tax is a tax implemented on goods and services purchases which represents generally 23% of the total price of the service or product. It is collected by VAT-registered traders who owe it to State. Taxable persons are private individuals and corporate bodies not registered for VAT purpose.
Also, when you run a non-registered business, the payments from the clients are excluded from VAT; however you have to keep in mind the fact that, when you reach the tax threshold, you will be obliged to register causing an increase of selling prices in order to cover these new expenses.
As a representative, TRANSLIT will provide you with all the necessary documents and take care of the whole procedure for your VAT registration. Also, on request, we can do the VAT return for you at the time interval you would have chosen beforehand.
