The Irish government have announced a lowering of the standard rate of VAT for Ireland as part of the Job Stimulus Package. The standard VAT rate will be lowered from 23% to 21% for 6 months effective 1 September 2020 through to 28 February 2021.
What’s changing?
On 23 July 2020, An Taoiseach, Micheál Martin announced the July Job Stimulus Package. This is a programme of initiatives and incentives designed to help businesses re-open, get people back to work and promote confidence. As part of this programme the standard VAT rate was lowered from 23% to 21% for 6 months effective 1 September 2020 through to 28 February 2021. Full details of the VAT change can be found here – GOV.IE Guidance
In order to prepare for the VAT change, customers may need to take action within their software to ensure they are prepared. Here’s how:
- Sage 50 Accounts – Customers will need to set up a new tax code by following our Sage 50 guidance
- Sage 200 – Customers will need to set up a new tax code by following our Sage 200 guidance
Please contact our Support team if you require assistance in setting up your new tax code by calling 02879644975.
