VAT news tagged as "Import VAT"

Norway

Norway 2017 VAT changes

December 23rd, 2016

A number of VAT changes are to be introduced from 1 January 2017 in Norway. These include: Importers will be able to defer payment of import VAT by reporting the input and output VAT simultaneously in the following VAT return A new VAT return is to be introduced with a range of extra disclosures


South Korea

South Korea import VAT deferment

January 25th, 2016

South Korea is to become the latest country to offer an import VAT deferment scheme to help mitigate cash flow management for importers. The proposal would enable the importer of record to delay payment of both import VAT and duties until the next VAT return. To qualify for the new scheme, which launches in July …


Mexico

Mexico improves exporters’ VAT scheme

July 28th, 2014

For business with foreign imports, but mostly only export sales – and therefore a regular excess in import VAT – the Mexican VAT regime to help accelerate VAT refunds has been improved further. Mexican IMMEX VAT refunds Where an importer (for later export) brings supply chain goods into the country, it must pay 16% Mexican …


Sweden

Swedish import VAT changes

July 19th, 2014

Importers into Sweden face a change in the administrative procedures from 1 January 2015. Import VAT deferment Instead of reporting import Swedish import VAT to the Customs office, they will instead file and pay directly to the tax office.  This will improve cash flows since if there are output VAT to be declared, the import …


Poland

Polish reverse charge on import VAT for Authorised Economic Operators

July 15th, 2014

Polish reverse charge on import VAT for Authorised Economic Operators Poland has proposed the implementation of an import VAT simplification process for businesses holding an Authorised Economic Operator certificate Polish import VAT Currently, companies importing goods into Poland from outside of the EU must settle the import VAT, which is the standard Polish VAT rate …


Netherlands

Netherlands reduces VAT bank guarantees for importers

January 15th, 2014

The Netherlands has changed the methodology for the calculation of Dutch import VAT deferment bank guarantees, including setting maximum and minimum amounts. Dutch Article 23 VAT Deferment License Importers into the EU via the Netherlands may avoid the payment of Dutch import VAT at 21% through a highly attractive VAT deferment scheme. Known as an …