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The short answer
Postponed accounting lets a trader registered for both VAT and Customs and Excise account for import VAT on its VAT3 return instead of paying it when goods from Nigeria arrive. Revenue describes it as a simultaneous in-and-out entry: you declare the import VAT and, subject to the usual rules, deduct it on the same return, so no cash leaves the business for import VAT. It applies to all imports from outside the EU, and it is optional.
What postponed accounting is
When goods from Nigeria enter Ireland, they come from what EU rules call a third country, and import VAT is due as well as any customs duty. Without postponed accounting, the importer or its customs agent pays the import VAT at the point of importation and claims it back later on its VAT return. With postponed accounting, that payment never happens at the border. Instead, the import VAT is declared and deducted on the VAT3 return.
Revenue's page (published 17 February 2026) says postponed accounting may be applied to all imports from third countries, including Great Britain but not Northern Ireland. That includes Nigeria. It is optional: a trader can still pay at import if it prefers.
Who can use it
Revenue says it is available to all traders registered for VAT and for Customs and Excise. In practice that means three things are in place before the goods arrive:
- An Irish VAT registration. If you are not yet registered, see Irish VAT registration thresholds.
- A customs registration so you can be named as importer. See getting an EORI number to import from Nigeria.
- A customs agent or system that marks the import declaration for postponed accounting.
Revenue says traders must fulfil certain conditions and be able to show compliance when asked. Its page does not list every condition, so check with your customs agent or Revenue before your first shipment.
The cash-flow effect
The benefit is timing. Paying import VAT at the border and reclaiming it later ties up cash between the day the goods land and the day the repayment or credit arrives. For a small importer of Nigerian foodstuffs, fabric or cosmetics, that gap can be the difference between restocking and waiting.
Worked example (illustrative figures)
| Step | Paying at import | Postponed accounting |
|---|---|---|
| Shipment arrives; import VAT assessed at €4,600 (illustrative) | Pay €4,600 to release goods | Pay nothing for import VAT |
| Customs duty, if any | Paid at import | Still paid at import |
| VAT return for the period | Reclaim €4,600 as input VAT | Declare €4,600 import VAT and deduct €4,600 on the same return |
| Net VAT effect | Nil, after a wait | Nil, with no wait |
The net tax is the same in both cases, assuming the import VAT is fully deductible. What changes is that, under postponed accounting, the €4,600 never leaves your account. Customs duty is not covered: postponed accounting deals with VAT only.
Getting it right in the records
- Keep each import declaration and the customs entry showing postponed accounting was used.
- Match each declaration to the supplier's invoice from Nigeria, the freight bill and the payment to the supplier.
- Record the import VAT on the VAT3 both as VAT due and as VAT deductible, in line with Revenue's instructions for the return.
- Keep these documents for six years, as Revenue's record-keeping guidance requires for the documents behind your tax.
- Reconcile monthly: every import should appear once on the return, no more and no less.
Before your first shipment from Lagos
Importers who come to postponed accounting late usually find out at the port, when the agent asks for payment of import VAT. A short checklist avoids that.
- Confirm your VAT registration is live and covers the trading name on the supplier's invoice.
- Confirm your customs registration and give the number to your freight forwarder and customs agent.
- Tell the agent in writing that you want postponed accounting applied to every import, and ask them to confirm it on each declaration.
- Ask the supplier for a commercial invoice in your business name, with a description, quantity and value for each line, so customs values match your books.
- Agree who pays duty and freight on arrival, so goods are not held while you sort out who owes what.
If your imports are seasonal, such as Christmas stock or wedding fabric, the cash-flow benefit is largest in the months when you import most. Plan your VAT periods with that in mind.
What it does not change
- Import controls on food and other regulated goods still apply. See rules on importing Nigerian foodstuff.
- Customs duty is still assessed and paid. See customs duty and VAT on goods from Nigeria.
- Personal parcels for family use are a separate matter from a trader's commercial imports.
- The Nigerian side, such as export paperwork, is unaffected.
Where Pryme fits
Paying a Lagos supplier from a Pryme Business Account in naira, after converting with Swap at a rate shown before you approve, leaves a dated payment record to file with the import declaration. The Finance agent can prepare a monthly list of imports to match against the VAT return; a person checks and approves it.
Questions people ask
Can I use postponed accounting for goods from Nigeria?
Yes, if you are registered for VAT and Customs and Excise. Revenue says it may be applied to all imports from third countries, which includes Nigeria.
Does postponed accounting mean I do not pay import VAT?
You account for it on your VAT3 return instead of paying at the border, and deduct it on the same return subject to the usual rules. Customs duty is still paid.
Is postponed accounting compulsory in Ireland?
No. Revenue says it is optional; you can still pay import VAT at the point of importation.
Do I need an EORI number?
You need to be registered for Customs and Excise as well as VAT. Your customs agent can confirm the registrations needed for your first import.
Sources
- Revenue: Postponed accounting (published 17 Feb 2026) · accessed Oct 2026
- Revenue: Keeping records (published 20 Oct 2025) · accessed Oct 2026
- Revenue: VAT thresholds (published 6 May 2026) · 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.