How to account for VAT

When VAT becomes payable

You must file and pay your Value-Added Tax (VAT) by the 19th day of the month following the end of each taxable period. This should be a true and correct return furnished to the Collector General through Revenue Online Service (ROS).

For ROS filers, the existing time limit of the 19 day of the month for filing a VAT return has been extended to the 23 day of the month.

You may incur interest and penalties for late or non-filing and payment of your VAT.

What are the taxable periods for VAT?

The taxable period is a two-month period (bi-monthly) commencing on the first day of January, March, May, July, September, November. However, the following taxable periods may be authorised by the Collector-General:

  • Monthly basis if you are in a constant repayment position
  • Annual return if you are making equal instalments by direct debit
  • Four-monthly returns if your annual VAT liability is between €3,001 and €14,400
  • Six-monthly returns if your annual liability is €3,000 or less.

What is the Return of Trading Details (RTD)?

You are required to complete a Return of Trading Details (RTD) form annually. The RTD form details the total purchases and sales for the year, broken down by the VAT rate.

The RTD is completed at the end of the year and will be displayed in your ROS inbox.

Next: How do you complete a VAT3 return?