VAT in the countries of the European Union
VAT administration in the course of cooperation with companies in the EU countries is a complex task. It is handled by qualified accountants and lawyers. This work requires a significant investment of time and is associated with the risk of penalties for violations of legal norms, the existence of which is known to experts from the law firm Finance Business Service.
The payment of VAT in the European Union is governed by Council Directive 2006/112/EC of November 28, 2006 on a common value added tax system. The application of the directive requires taking into account the norms of the national legislation of the EU countries on this issue. And it in its own way regulates the terms and procedure for registering VAT payers and the amount of tax rates. This gives rise to many risks when doing business with the EU countries and requires answers to many questions, such as these.
- Do we have to invoice with VAT?
- Who is responsible for VAT accounting, we or our customer?
- Do we have to account for VAT on services received?
- Should we become VAT payers and in what cases?
- What kind of VAT reporting and in what terms should be submitted to the tax authorities?
- What is the responsibility for violating VAT legislation?
THE ANSWERS TO THESE QUESTIONS DEPEND ON MANY FACTORS, FOR SUCH.
- The exact nature, composition and place of the provision of the service.
- Place of registration of the buyer and seller.
- What goods or services are provided and to whom, legal or natural person.
- What evidence supports the zero VAT rate.
Finance Business Service has extensive practical experience in VAT administration in the EU countries and offers the following services.
- Advice on value added taxation in EU countries.
- Tax planning, including VAT.
- Preparation of documents for registration as a VAT payer and obtaining a VAT number.
- Preparation of VAT tax reporting, EU List sales summary reporting and Intrastat statistical reporting.