Value Added Tax Consolidation Act 2010 section 109

Security to be given by certain taxable persons

Section 109 allows Revenue to require an accountable person to provide security for any VAT that is, or may become, due.

• Revenue may require a trader to give security as a condition of making taxable supplies, where it considers this necessary to protect the revenue.
• The amount, manner and form of the security are determined by Revenue and will typically be an insurance bond, bank guarantee or similar instrument.
• The requirement is imposed by serving a written notice on the trader and applies from the date of service of that notice.
• The trader may appeal the requirement to the Appeal Commissioners within 30 days of the date of the notice, in accordance with section 949I of the Taxes Consolidation Act 1997.