Value Added Tax Consolidation Act 2010 section 26

Transfer of intangible business assets deemed not to be supply of services

Section 26 provides that the transfer of goodwill or other intangible business assets, when made in connection with a business transfer, is not treated as a supply of services for VAT purposes.

• The transfer of goodwill or other intangible assets of a business, made in connection with a business transfer (or part-transfer), is deemed not to be a supply of services.
• This relief applies where an accountable person transfers such assets to a taxable person carrying on a business in the State, or where a non-accountable person transfers them to another person.
• For the purposes of this section, "accountable person" does not include a person who is accountable solely by reason of intra-Community acquisitions (section 9), certain goods supplied by non-established suppliers (section 10), services received from abroad (section 12), State and public body activities (section 14(1)), or certain other service provisions (section 17(1)).
• The relief mirrors the treatment provided for goods under section 20(2)(c) and ensures that any consideration paid for intangible assets as part of a business transfer is not subject to VAT.