Charities that raise funds through private means will be eligible for refunds on their VAT costs MORGAN TREACY/INPHOCharities will soon benefit from a new tax exemption worth €5 million to the sector after Paschal Donohoe said he expected to sign an order by the end of the month allowing them to claim significant refunds on their VAT. The scheme will allow charities to claim refunds based on their levels of private funding. The finance minister said that the new system developed by the Revenue Commissioners would allow charities to submit claims and access support online. A capped fund of €5 million will be available next year for the scheme. It will come into effect from January 1 but will be paid a year in arrears, meaning that charities will be able to submit claims for VAT costs paid this year.

Source: The Times December 10, 2018 00:08 UTC