What is VAT?


Value-Added Tax (VAT) is an indirect tax, which is payable on sales. Each party in the chain of supply (manufacturer, wholesaler and retailer) act as a VAT collector.

They take VAT from their customer and remit the excess to Revenue at the end of each bimonthly period.

This section explains:

  • who are taxable and accountable persons
  • exemption from VAT
  • reverse charge (self-accounting)
  • qualifying activities
  • VAT and fraud.

Next: Who are taxable and accountable persons?