Irish Revenue has issued eBrief No. 144/26, concerning a new Tax and Duty Manual (TDM) on the VAT treatment of end-of-lease transactions.
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1 Introduction
This guidance sets out the VAT treatment of end-of-lease transactions where the lessor is a financial institution that buys an asset (moveable good) and leases it to a lessee.
2 What is a lease
A lease is an agreement whereby one party (the lessee) can use an asset owned by another party (lessor) for a specified period in exchan…