How can I change my VAT classification to that of an exempt person?

 A person registered under Article 11 can qualify as a small undertaking if the turnover for the relevant period falls below the Exit Threshold. Such a person will not be eligible to be re-classified as an exempt person before the lapse of 12 calendar months from the date of registration.


 Exit threshold

 Economic activities consisting principally in the supply of goods. 


 Economic activities consisting principally of services with a relatively low value added such as an electrician


 Economic activities consisting of services such as an accountant or a lawyer


Persons whose annual turnover is below €7,000 are not obliged to register for Vat and issue Vat receipts.  Such persons are still required to issue an ordinary receipt as required by the Income Tax Act.