VAT records to be kept

What sales records do you keep?

You must record every sale and the amount charged to your customers, including your intra-Community supplies and exports.

Your sales records should be separated into the different Value-Added Tax (VAT) rates, including the exempt transactions. If you do not have a facility for separating sales VAT on transactions, there are special schemes dealing with sales to unregistered persons.

Your sales should be supported by records such as:

  • invoices (to registered customers)
  • sales dockets
  • sales receipts
  • cash register tally rolls
  • delivery notes
  • cash book
  • VAT information exchange system (VIES) documents
  • Intrastat returns
  • stamped copies of single administrative documents (SADs) and other import documents
  • bank statements.

To combat activity in the shadow economy, Revenue may issue a Notice under section 108A of the VAT Consolidation Act to an accountable person. This requires them to furnish specified information in relation to taxable supplies made during a specified period. The specified period is a period of time of not more than two months following the Notice being issued.

For further information on the mechanism by which this Notice operates, see Further guidance.

Next: How long do you keep records for?