We have compiled the latest updates to various VAT legislation, publications, briefs and guidance. Revenue and Customs Brief 4 (2025): VAT deduction on the management of pension funds How VAT affects charities (VAT Notice 701/1) How to claim a repayment of import duty and VAT if you've overpaid VAT Construction Direction under regulation 25(4AA) of the Value Added Tax Regulations 1995 (SI 1995/2518), Cancelling your VAT registration (VAT Notice 700/11) Check if you can claim VAT relief on goods imported into Northern Ireland for onward supply to the EU How to claim VAT relief on goods imported for onward supply to an EU country Overview of VAT on Low-Value Imports Check when you can account for import VAT on your VAT Return How late payment penalties work if you pay VAT late Who should register for VAT (VAT Notice 700/1) Personal Export Scheme (VAT Notice 707) Buildings and construction (VAT Notice 708) Investment gold coins (VAT Notice 701/21A)

Revenue has published new guidance on the VAT deductibility for insurance and reinsurance supplies providing relevant information in respect of supplies to policyholders located within and outside the EU. The guidance outlines the VAT deductibility rules for investment activities and general overheads and includes several relevant examples. The guidance also provides information on the meaning of insurance and reinsurance for the purposes of VAT deductibility. The VAT Deductibility for Life Insurance Companies manual has been marked as no longer relevant.

Revenue has updated its guidance on the Cooperative Compliance framework for the Large Cases Division (LCD) and High Wealth and Financial Services Division (HW&FSD) to outline the updated group turnover criteria for assignment to the relevant Revenue divisions. The guidance outlines that group turnover for assignment to LCD and HW&FSD is now €350 million, (previously €190 million) and there has been a removal of the group tax threshold requirement of €18 million.  As was the case previously, certain sector specific cases continue to be managed by LCD and HW&FSD, irrespective of the Group turnover figure.

Revenue has updated guidance on the age tax exemption and marginal relief available for individuals aged 65 or older providing additional details on claiming the exemption and the method by which the exemption is granted. The guidance clarifies that the age exemption is available where total income does not exceed the relevant exemption limit, and outlines that the four-year rule for making a refund claim applies where the taxpayer believes the exemption was due and was not applied. A new example has been included to outline a scenario where marginal relief is not beneficial to a taxpayer and other examples throughout the manual have been updated to reflect the standard rate tax bands and personal tax credits in place for the 2025 tax year.

The European Commission has published a report assessing the tax gaps in the EU and its Member States. The report highlights the benefits of reducing tax compliance gaps, including fostering fairer tax systems and sounder public finances.

Revenue has published new guidance providing details on the VAT treatment of extended warranties, manufacturers warranties and commission payments to retailers. The guidance outlines that the supply of an extended warranty is a VAT exempt supply of an insurance service where it meets the definition of insurance. The guidance contains relevant examples and outlines the meaning of insurance, extended warranties and manufacturers’ warranties.

The EU Council has agreed to introduce a temporary customs duty on parcels sent directly to consumers from third countries. Starting in July 2026, a €3 customs duty per item will apply on e-commerce parcels valued below €150.

The guidance on the Offshore Funds regime has been updated to clarify that that a reference to an offshore fund applies only to a foreign company, unit trust scheme, or co-ownership arrangement in which a person holds a ‘material interest’. Other relevant updates include: The use of the term ‘reasonably expected’ in accordance with section 743(2) TCA 1997 has been reflected in the guidance, and contact details for applications to Revenue for certification as a distributing offshore fund are included.

Revenue issued an e-brief last week outlining the new stamp duty exemption on acquisitions of stocks and marketable securities provided for by Finance Bill 2025. The note outlines the conditions applying to the exemption and the effective date of its introduction. The exemption will apply where: The securities are admitted to trading on a regulated market or a multilateral trading facility within the EU, or on an equivalent third country market, the issuing entity’s market capitalisation was below €1 billion on 1 December in the preceding year, and a valid notification of the applicable market capitalisation was submitted to Revenue within the specified timeframe. Where securities are admitted to trading after 1 December, the exemption may still apply if the issuer’s expected market capitalisation upon admission is below €1 billion. Subject to enactment of the relevant provisions in Finance Bill 2025, the exemption will take effect from 1 January 2026 and remain in place until 31 December 2030. As the exemption depends on timely notification to Revenue of the applicable market capitalisation, an overview of the proposed measure has been published on the Revenue website including instructions for submitting a notification together with links to the relevant forms. Comprehensive guidance is expected to be issued once Finance Bill 2025 has been enacted.

The EU Parliament’s Subcommittee on Tax Matters held a public hearing on the taxation of ultra-high-net-worth individuals. Noting diverse opinions on the impact of potential new wealth taxes on individuals, the committee recognised the need for equitable tax rules that foster sustainable growth and strengthen competitiveness.

Revenue has published two new guidance documents providing details on the VAT treatment of establishing and managing a pension scheme and the VAT treatment of the management of pension schemes. The new guidance consolidates information from previous related guidance documents, which have now been withdrawn. The guidance on the VAT treatment of establishing and managing a pension scheme provides information on the relevant conditions for VAT deductibility in respect of costs incurred in the establishment, on-going management, administration, and management of the assets of a pension scheme. Examples are included outlining the VAT treatment in situations where a pension scheme reimburses costs incurred by the employer and where the employer reimburses the pension scheme. The new guidance on the VAT treatment of the management of pension schemes provides information on VAT treatment and VAT deductibility of defined benefit and defined contribution schemes. Previous guidance on the VAT treatment of the management of defined benefit pension schemes and the management of a defined contribution occupational pension scheme are now marked as no longer relevant.

The OECD has published its report on Revenue Statistics for 2025. The report provides data on tax revenues in OECD countries which had reached their highest-ever level in 2024, mainly driven by labour taxes.