Indirect Tax Matters Newsletter | September 2023

1. Indirect Tax actions for life sciences and healthcare businesses 

Ciara McMullin outlines key considerations for the life sciences and healthcare industry, with many of the topics also having a wider application to other sectors.

2. Obtaining goods/services with zero rate of VAT - Section 56 Authorisation - 2023

Does your business qualify to receive most goods and services with a zero-rate of VAT? We explain the criteria and benefits. Is it time to apply for, or renew, this beneficial relief?

3. Did you incur EU VAT costs in 2022 – deadline to reclaim approaching fast!

Learn more about how your business may be entitled to reclaim VAT incurred in another EU Member State in 2022 through the EVR service, deadline for claims is the end of September 2023.

4. VAT on composite & multiple supplies – Are you applying VAT correctly?

When providing a mixture of both goods and services, often at a single price as one package, it is crucial to conclude on the nature of the supply and if it is considered a composite or multiple supply when determining the VAT treatment.

5. EU customs reform

The EU Commission publishes its Customs Reform plan, Goker Yuruk provides insights particularly on changes following the e-commerce boom over the last few years.

6. Have you correctly identified the nature of your supplies?

In most cases it is very obvious what services you are supplying customers. However, subtle differences in the nature of the supply can have a very significant impact on the VAT treatment, Patrick Doran considers this in more depth.
 

7. Potential fiscal impacts of the transition to a lower carbon economy in Ireland

In July 2023, the Department of Finance published a paper which examines the potential fiscal impacts of the transition to a lower carbon economy in Ireland. Mattia Piol, one of our ESG specialists, highlights the aim of this publication is to provide timely analysis of current domestic climate change policies.
 

8. CBAM update

Customs specialist Goker Yuruk provides a brief update following the release by the EU Commission, on 13 June 2023, of its draft Carbon Border Adjustment Mechanism (CBAM) Implementation Regulation.