Are you involved in an Irish Registered Charity?
Is your Charity incurring Vat on various expenditures?
Does your Charity have privately sourced income (i.e. income that is not from government sources)?
If you have answered yes to the above questions, your Charity may qualify for a refund of Vat on expenditures incurred under the Vat Compensation Scheme.
What is the Vat Compensation Scheme?
The Vat Compensation Scheme was announced on the 10th October 2017 as part of the 2018 Budget measures. This will take effect from 1st January 2018. However, you will only be able to claim for the Vat compensation for the calendar year 2018 in 2019 (i.e. one year in arrears).
Charities entitlement to Vat compensation will be based on the level of non-public funding received. In other words, income that is not directly / indirectly from government sources.
A capped fund of €5 million will be made available in 2019 (for claims relating to 2018). Where the total amount of claims exceed the €5 million capped fund, Charities will be paid on a pro-rata basis. Claims of less than €500 will not qualify.
Qualifying Charities must be;
- Registered with the Charities Regulator,
- Registered with Revenue and hold a Charitable Tax Exemption (CHY), and
- Have Tax Clearance.
For further information, or to arrange a free consultation, please email firstname.lastname@example.org, or complete the form below.
For more information on the scheme, please see our Frequently Asked Questions (FAQ’s).
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