January 2009

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European Community

The Irish Government has made an unusual move compared to other countries who reduced their VAT rate to support the economy (UK from 17.5 % to 15 %) or postponed plans to increase their VAT rate from 19 % to 20 % (Netherlands) or from 5 % to 7 % (Japan).

The standard VAT rate in Ireland has been increased from 21 % to 21.5 % effective December 1, 2008 !

If you are doing business in Ireland or with suppliers or clients in Ireland you may want to check invoices, credit notes, advance payments or long term contracts etc.


 


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