The Irish government announced a temporary reduction in the standard VAT rate: dropping from 23% to 21% for a six-month period from September 1, 2020 to February 28, 2021.
This is the first change to the standard VAT rate in Ireland since 2012 (when the rate increased to 23% from 21%). It involves making changes to your systems, processes, and possibly prices within a short space of time.
Since the announcement, Intact established a working group in Intact to consider how best to help you manage this change.
Changes need to be implemented via a series of Menu Options on different screens in your Intact iQ software, which will be enabled with the loading of a plugin. This guide outlines the procedure for changing the Standard Vat Rate of 23% to 21%.