AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Revenue's VAT thresholds page (published 6 May 2026) sets annual turnover thresholds of €42,500 for services and €85,000 for goods, with goods made from zero-rated materials at €42,500. A business supplying both uses €85,000 only if at least 90% of its turnover comes from goods. A business not established in Ireland has no threshold at all: it must register once it makes taxable supplies to taxable customers in the State, unless it uses the VAT SME Scheme.
The thresholds, as Revenue states them
Thresholds are measured on annual turnover, excluding VAT. Once you exceed the one that applies to you, you must register. These are the figures on Revenue's page as at October 2026:
| Type of supply | Annual threshold |
|---|---|
| Services only | €42,500 |
| Goods made from zero-rated materials (reduced or standard-rated goods) | €42,500 |
| Goods | €85,000 |
| Goods and services, where 90% or more of turnover is from goods (other than the above) | €85,000 |
| Distance sales and cross-border telecoms, broadcasting and electronic (TBE) services, EU-wide | €10,000 (only for suppliers established in one Member State) |
| Intra-EU acquisitions of goods | €41,000 |
Revenue's page does not give the date these thresholds took effect, so if you are checking an earlier year, look at the figures that applied then.
Which threshold applies to a mixed business
Many Nigerian-owned businesses in Ireland do a little of everything: a shop that sells imported foodstuffs and also offers shipping or money-transfer agency services, or a consultancy that sells some products. The €85,000 threshold is available only where 90% or more of turnover comes from goods. Otherwise, the €42,500 services threshold applies to the whole business.
Worked example (illustrative)
An African grocery in Dublin expects €70,000 of food sales and €10,000 of service income, such as delivery and parcel handling, in a year: €80,000 in total. Goods are 87.5% of turnover (70,000 ÷ 80,000), below 90%. The €85,000 goods threshold is not available, and the business is already over the €42,500 services threshold, so it must register. If service income were €5,000 instead, goods would be 93.3% of €75,000 and the €85,000 threshold would apply.
Cross-border points for Ireland-Nigeria businesses
If your business is established in Ireland
Selling services to Nigerian business clients is common for Irish consultancies and freelancers. Revenue's general place-of-supply rules say a business-to-business service is supplied where the customer is established, whether that customer is in the EU or not, so Irish VAT is usually not charged on the invoice. Whether such supplies count toward your Irish threshold is a separate question; confirm it with Revenue or an adviser before relying on staying under. See charging Irish VAT to a client in Nigeria.
Imports from Nigeria do not create a threshold of their own, but import VAT is payable on goods entering Ireland. Registered traders can use postponed accounting to deal with it on the VAT return; see postponed VAT accounting on imports.
If your business is established outside Ireland
A Lagos company selling taxable goods or services to taxable customers in Ireland cannot rely on the thresholds. Revenue says a non-established person must register and account for Irish VAT irrespective of turnover, unless it uses the VAT SME Scheme. Check carefully whether a Nigerian company with Irish customers falls into this, especially if it holds stock or delivers services on the ground in Ireland.
EU distance sales
The €10,000 EU-wide threshold for distance sales to consumers and TBE services applies only to suppliers established in one Member State. An Irish online shop selling to consumers across the EU counts total EU-wide sales against it.
Steps when you are close to a threshold
- Track turnover monthly, split between goods and services, so you can see the 90% test coming.
- Use a rolling twelve-month view as well as the calendar year, and ask your adviser which period Revenue will look at for your business.
- Register through the right channel: Revenue says resident individuals and partnerships use Form TR1 for VAT, and companies use Form TR2 or ROS.
- Once registered, invoices change: you charge VAT where it applies and keep VAT records alongside your other business records.
- Revisit your prices. If customers are consumers, VAT on top may change what they pay.
Common misreadings
- Counting profit instead of turnover. The thresholds are on turnover, excluding VAT, not on what you keep.
- Assuming a sole trader with a part-time business is too small to matter. A side business selling services passes €42,500 sooner than many expect.
- Treating the goods threshold as the default for a shop. It applies only if goods are 90% or more of turnover.
- Assuming a Nigerian company gets the same thresholds as an Irish one. Revenue says non-established businesses have none.
- Forgetting intra-EU purchases. Buying goods from other EU countries has its own €41,000 acquisitions threshold.
Where Pryme fits
A Pryme Business Account keeps euro and naira receipts in separate balances, which makes it easier to see turnover by currency and by source. The Finance agent can prepare a monthly turnover summary split between goods and services for you to check against the thresholds; a person reviews it. See business multicurrency accounts and invoicing.
Questions people ask
What is the VAT threshold in Ireland for services?
€42,500 of annual turnover, according to Revenue's VAT thresholds page published on 6 May 2026.
What is the VAT threshold in Ireland for goods?
€85,000. It also applies to a business selling goods and services only where 90% or more of its turnover comes from goods.
Does a Nigerian company selling in Ireland get a VAT threshold?
No. Revenue says a non-established person must register for Irish VAT when supplying taxable goods or services to taxable customers in the State, irrespective of turnover, unless it uses the VAT SME Scheme.
Do I charge Irish VAT to a business client in Nigeria?
Usually not. Revenue's rules say a business-to-business service is supplied where the customer is established, including outside the EU.
Sources
- Revenue: VAT thresholds (published 6 May 2026) · accessed Oct 2026
- Revenue: General place of supply rules for services (published 10 Aug 2026) · accessed Oct 2026
- Revenue: Form TR1 · accessed Oct 2026
- Revenue: Keeping records (published 20 Oct 2025) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.