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Ireland: Details of Revised Pharmacists Scheme for VAT Published

25 September 2012   (0 Comments)
Posted by: SAIT Technical
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 By TaxFax (Irish Tax Institute)

Revenue has issued an eBrief on a revised Pharmacists Scheme for VAT. This is for use by pharmacies whose annual Vatable turnover is less than €1.5 million. The scheme operates by marking-up purchases for resale at the positive VAT rates to arrive at corresponding sales at these positive VAT rates; for more information on the scheme click here.


WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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