The Resource What a customs lawyer should know about EU value added tax (VAT) law

What a customs lawyer should know about EU value added tax (VAT) law

Label
What a customs lawyer should know about EU value added tax (VAT) law
Title
What a customs lawyer should know about EU value added tax (VAT) law
Creator
Subject
Language
eng
Summary
It is a widely held belief that persons handling imports and exports mainly need to know customs legislation and the rules on import/export prohibitions. However, insofar as the financial aspects of import are concerned, the amount of import value added tax (VAT) is normally higher than that of customs duty, given that a high proportion of goods can be imported into the EU duty-free or at low duty rates, whereas for import VAT the standard rate ranges - depending on the Member State concerned - between 15% and 27%. Though VAT - different from customs duty - is intended to be borne by the final consumer and VAT relief is to be granted when goods are exported or brought to another Member State, there are a number of pitfalls which can lead to the result that the importer or exporter or his representative has to bear the burden of VAT. This article describes in a simple way the VAT rules for import (including import followed by an onward delivery to another Member State) and export and explains their link with, or divergence from, the customs rules
Citation source
In: Global trade and customs journal. - Alphen aan den Rijn. - Vol. 7 (2012),
http://library.link/vocab/creatorName
  • Lux, M
  • Schrömbges, U
  • Vitkauskaite, K
Geographic coverage
  • European Union
  • Europe
Language note
English
http://library.link/vocab/subjectName
  • VAT
  • customs duty
  • import duty
  • export duty
Label
What a customs lawyer should know about EU value added tax (VAT) law
Instantiates
Publication
Label
What a customs lawyer should know about EU value added tax (VAT) law
Publication

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