Oireachtas Joint and Select Committees
Thursday, 12 October 2017
Public Accounts Committee
Transport Infrastructure Ireland: Financial Statements 2016
9:00 am
Mr. Michael Kennedy:
Ordinarily, the company involved would send an invoice to Transport Infrastructure Ireland.
The public private partnership contractor sends an invoice to TII, which we pay each month, with the full amount of the VAT on the construction value of the scheme. In relation to a construction contract such as we have with the public private partnership schemes, the Revenue rules are that one pays a reverse charge. That means that we pay that money directly to the Revenue Commissioners, it does not go to the public private partnership contractor to give to the Revenue Commissioners.
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