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Taxable person

Meaning of taxable person

A trader is a taxable person and must register for VAT (s 65) if in any continuous 12 month period if:

(a) his turnover from the supply of taxable goods exceeds, or is likely to exceed €75,000,

(b) his turnover from the supply of taxable services exceeds, or is likely to exceed €37,500,

(c) the value of his ICAs exceeds, or is likely to exceed €41,000,

(d) he disposes of developed property,

(e) being a distance seller selling into Ireland, his turnover from the supply of goods exceeds, or is likely to exceed €35,000 in a calendar year (s 29(1)).

A farmer or sea-fisherman is not obliged to register but may elect to do so.