31Jan

PURCHASE AND SALE OF GOODS IN THE EU.

By tax Comments Off on PURCHASE AND SALE OF GOODS IN THE EU.

As of 1st of January 2022, the declaration requirements for sales and purchases of goods in the European Union are changing.  Corporate businesses now have two separate declarations to make:

– a statistical survey;

– a VAT recapitulative statement.

1. The statistical survey

From January 2022, businesses will be asked to respond to a monthly statistical survey on intra-EU trade in goods.

Only businesses that are in the sample and have received a notification letter should respond to this statistical survey.

For the monthly responses in the year 2022, companies selected to respond to the statistical survey were to receive a “notification letter” in December 2021.

2. VAT summary statement

Businesses must provide a VAT recapitulative statement relating to supplies of goods within the European Union.

– Corporate businesses concerned are bound by this obligation as from 1st of January 2022;

– The summary must be sent electronically. It includes various details and in particular the VAT identification number of the EU purchaser.

Penalties are foreseen:

– Failure to file the return within the deadline will result in a fine of €750, increased to €1,500 for failure to file within 30 days of a formal notice;

– Any omission or inaccuracy in the declaration will result in a fine of €15 per omission or inaccuracy, with a maximum fine of €1,500 per State. These new obligations must be fulfilled on the DebWeb portal.

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Since January 1, 2022, the declaration obligations related to sales and purchases of goods in the European Union are changing.  Professionals now have two separate declarations to make:

- A monthly statistical survey on intra-EU trade in goods.

- recapitulative VAT statement related to the supply of goods in the European Union.

These new obligations must be completed on the DebWeb portal.

 

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