Value Added Tax Consolidation Act 2010 section 2

Interpretation - general

Section 2 defines the key terms and expressions used throughout the Value Added Tax Consolidation Act 2010, covering concepts such as business, goods, services, taxable persons, supply types, registration thresholds, territory, and the treatment of moneys received.

• A "business" is any economic activity, including trading, mining, agriculture, and the professions; a "taxable person" is anyone who independently carries on such an activity in the EU or elsewhere, excluding employees.
• "Goods" means all movable and immovable objects (excluding things in action and money); the VAT registration thresholds are €85,000 for goods and €42,500 for services.
• Supplies may be classified as composite supplies (taxed at the rate of the principal element) or multiple supplies (each element taxed at its own rate); electricity, gas, heat, refrigeration, and ventilation are deemed to be supplies of goods.
• For VAT purposes, references to the Community and to Member States include Northern Ireland in respect of transactions in goods (but not services), reflecting the Northern Ireland Protocol.