Ian Marrow takes us through the concepts of dispatches and acquisitions and the many traps that exist for businesses in this area
From an indirect tax perspective since the creation of the single market in 1993 the terms export and import only apply to transactions which involve the movement of goods out of or into the European Union (EU). Intra-EU movements of goods are termed dispatches and acquisitions (‘dispatch lager’ anyone?).
This is a huge and complex subject so for the sanity of one and all I shall be focusing on what are dispatches acquisitions their respective VAT liabilities and the use of the ‘triangulation’ simplification procedure. The main reason for the complexity is that these rules were intended to be transitory whilst a definitive EU wide system was formulated and adopted. We’re still waiting. As with most things concerning VAT there are exceptions and...
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Ian Marrow takes us through the concepts of dispatches and acquisitions and the many traps that exist for businesses in this area
From an indirect tax perspective since the creation of the single market in 1993 the terms export and import only apply to transactions which involve the movement of goods out of or into the European Union (EU). Intra-EU movements of goods are termed dispatches and acquisitions (‘dispatch lager’ anyone?).
This is a huge and complex subject so for the sanity of one and all I shall be focusing on what are dispatches acquisitions their respective VAT liabilities and the use of the ‘triangulation’ simplification procedure. The main reason for the complexity is that these rules were intended to be transitory whilst a definitive EU wide system was formulated and adopted. We’re still waiting. As with most things concerning VAT there are exceptions and...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
