Value Added Tax
Over recent years the Revenue focus on Value Added Tax (VAT) audits (with potential for interest and penalties) has increased as VAT has become the highest generating tax, accounting for 30% of the Exchequer’s tax yield. The Revenue focus has encouraged businesses to put VAT to the top of their agenda so that their VAT risk and costs are fully managed.
Deloitte has a wealth of experience advising clients in all industry sectors, including the technology, financial services, consumer business, property and public sectors. Our dedicated teams, located in Dublin, Cork and Limerick, can help businesses manage all aspects of their VAT affairs. Our teams are staffed by senior personnel drawn from Revenue, accountancy and legal backgrounds and our range of services includes advising on Revenue audits, providing VAT efficient solutions for transactions, creating cash flow savings, advising on mergers and acquisitions (M&A) transactions, maximising VAT recovery, and providing systems and VAT process advice, training seminars, VAT compliance and litigation services.
Changes to VAT law and continuing case law are an ongoing challenge for businesses and VAT practitioners. Our aim is to continue adding significant value to our clients at a time when conserving and generating cash is more important than ever. To do this we constantly develop our knowledge of the changing rules to ensure your policies, procedures and systems are kept up-to-date to give you a competitive edge.
VAT dispute resolution services
The current financial environment has increased pressure on Revenue to maximise tax receipts and on businesses to minimise VAT costs. The tension between these two different perspectives and the fact that VAT is governed by complex Irish and EU legislation can lead to costly disputes and the potential to upset the relationship with Revenue.
We have developed significant expertise in effectively managing disputes with Revenue, particularly those that arise from Revenue audits, to reduce the cost to business. Our dispute resolution team includes experts with Revenue, legal and accountancy backgrounds who have experience in eliminating and reducing VAT liabilities being sought by Revenue.
Our success is based on a recognition that the official view is not always the correct one and by developing robust technical arguments we have successfully challenged even long-established practice. This approach is enhanced by our in-depth of knowledge of EU VAT legislation and case law, which can confer an advantage on businesses that is not provided for in Irish legislation.
Our primary objective is to add value by reducing the costs of a dispute with Revenue. If you or your client have an existing or emerging VAT dispute with Revenue that could benefit from our expertise, please do not hesitate to contact your Deloitte contact or Pascal Brennan, partner, on T +353 1 4172443.
| VAT services | VAT team |
For further information on our VAT services please do not hesitate to contact a member of the VAT team.
