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VAT Question

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  • 02-06-2006 1:33pm
    #1
    denhamd2
    Closed Accounts Posts: 122 ✭✭


    I have a question regarding VAT. I am receiving income through Google Adsense and want to put it through my company. I know I have to pay PAYE and PRSI on it but what about VAT? The payment is coming from the U.S. so would I have to pay VAT on that?


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    #2
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    Did you charge them Vat or provide a Vat invoice.

    Are you vat registered

    It appears that if you put it through the company and you are vat regsitered then you are receiving the income at the gross amount and must calculate the vat on the gross amount (calculating backwards) 121e/1.21 = net amount of 100e, 21% vat of 100 is 21 therfore 100+21=121

    Net Receipt is 100
    Vat is 21
    Gross Receipt 121


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    #3
    denhamd2
    Closed Accounts Posts: 122 ✭✭denhamd2


    No I didn't charge them Vat or provide a Vat invoice. I am Vat registered. The way Google Adsense works is that I don't charge them, my income just accumulates over the month and is not a fixed amount. But should I be paying Vat if its coming from the United States?


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