Compliance & Technical VAT Guides

VAT invoices and compliance requirements

VAT-registered businesses must issue VAT invoices compliant with the local VAT rules. The criteria differ per country, but there are certain elements which are required on all VAT invoices

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VAT Rates

If you’re registered, you have to charge VAT when you make taxable supplies. What qualifies and the VAT rate you charge depends on the type of goods or services you provide.

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Importing: VAT, Duties and Customs Clearance

When goods are imported into a country with VAT, import tax is charged as a percentage of the value of the imported goods. The VAT is usually recoverable, but there could also be tax obligations.

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Triangulation

Where 3 parties are involved in successive transactions, but only one movement of goods take place, a simplification may be available to avoid certain registration obligations.

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Chain Transactions

Chain transactions occur where numerous parties are involved in a number of supplies. The VAT treatment can be complex and should be verified to ensure compliance.

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Consignment and Call-off Stock

Where businesses keep stock locally to meet customer needs quickly, this may be classed as call-off or consignment stock. The VAT treatment of these differ and simplifications may be available.

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Supply and Install

Businesses supplying installed goods must consider the VAT treatment of their supplies, together with any simplifications or VAT registration obligations that may arise.

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Customs Clearance - Who can act as the declarant?

Importers must consider the practical issues relating to customs clearance. Many countries require that you appoint a local agent to act as importer of record - this is independent of VAT compliance

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Import VAT Deferment in Netherlands - Article 23 License

When goods are imported into the EU, VAT must be paid by the importer. Netherlands has a deferment regime that allows importers to defer the VAT, which can have a massive positive cash flow impact

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