VAT news tagged as "Import"

New Zealand

New Zealand scraps GST import threshold 2019

May 1st, 2018

New Zealand is considering withdrawing its low-value consignment stock threshold for import Goods and Services Tax from 1 October 2019. The proposed measure would help reduce tax evasion, and level the playing field for local retailers. A public consultation has now been launched to consider the effects of the measure. Currently, goods bought from foreign online …


Finland import postponement update

May 13th, 2017

Finland has issued proposals to update its import VAT deferment scheme this month.  The changes include: Importers must report the import VAT due in the same month as the import For VAT-registered businesses The tax office will become responsible for administering the import VAT administration instead of the customs office Non-VAT registered businesses will still …


German warehouse VAT

January 27th, 2016

The European Court of Justice’s Advocate General (AG) has opined on a VAT treatment of goods held within customs warehouses. Eurogate Distribution GmbH and DHL Hub Leipzig GmbH Eurogate operated a German bonded warehouse to hold non-EU cleared goods destined for export from the EU for its customers. Eurogate failed to record these exports on …


India GST on services

September 17th, 2015

As India continues to debate its implementation of a Goods & Services Tax (GST) to replace its VAT regime, guidance has been provided on the place of supply rules for services. The place of supply refers to where a taxable supply is subject to VAT. When goods or services are provided across state of country …


Singapore import GST update

June 21st, 2015

The Singaporean Revenue Authority has provided new guidance to help determine the Singapore Goods & Sales Tax (GST) liabilities for the import of goods and supply to local customers. As with most countries, the importer of record is liable to pay import GST, and any duties, when clearing the goods into Singapore. If the importer …


VAT & logistics import gateways into the EU

February 18th, 2015

Recent attention on goods importing, as has been seen in Belgium, will be of interest to those non-EU companies looking to forge channels into the EU. Belgium VAT‘s special ET 14000 scheme, where import VAT can be deferred onto VAT return filings, rather than by cash payment, no longer require companies to provide a pre-financing …