QuickBooks VAT codes
- December 17, 2020
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IE VAT codes and rates
When you set up VAT, QuickBooks Online automatically sets up a list of common VAT codes for you.
23% S - Standard rate VAT (from January1, 2017 forward)
If you are registered for VAT, you have to charge VAT at the standard rate on all goods and services you supply, unless they fall into another category. Before using anything other than the standard rate, go to Revenue's website to find out what rate of VAT applies in any particular set of circumstances.
13.5% R - Reduced rate VAT
A reduced rate of VAT applies to some goods and services including items such as fuel (coal, heating oil, gas), electricity, veterinary fees, building and building services, agricultural contracting services, short-term car hire, cleaning and maintenance services. It's important to read the detailed rules on Revenue's website to understand when the reduced rate can be used.
9% SR - Second reduced rate VAT
The second reduced rate of VAT applies only to certain goods and services, including newspapers, some eBooks, and the provision, by a person other than a non-profit making organisation, of facilities for taking part in sport. It's important to read the detailed rules on Revenue's website to understand when the second reduced rate can be used.
4.8% L - Livestock rate VAT
The livestock rate of Value-Added Tax (VAT) applies to livestock in general, and to horses that are normally intended for use in the preparation of foodstuffs or for use in agricultural production.
5.4% FR - Flat-rate addition
The flat-rate addition is not VAT but acts as compensation for losing input tax on purchases. It is not intended as reimbursement for all the VAT incurred on purchases. It's important to read the detailed rules on Revenue's website to understand when the flat-rate addition can be used.