PVA saves on short term cash flow requirements for importers Normally, import VAT on goods coming into a country is paid over at customs with any duties or tariffs. The VAT may then be recovered via the importer’s next VAT return against the eventual sales
New Administrative Guidelines for French import VAT deferment Following a public consultation in 2023, the French tax office published new Administrative Guidelines for the use of its Deferred or Postponed VAT Accounting for importers. Since January 2022 (see below) this has offered importers the opportunity
Avoid paying import UK VAT on goods arriving from the EU or rest of world The UK introduced its new deferred import VAT regime, Postponed VAT Accounting (PVA) following its departure from the EU VAT regime from 1 January 2021. The relief will enable importers
European countries compete to attract import business with reverse charge import VAT with no cash payments Most European Union member states offer cashflow assistance for importers of goods into their country. France’s 2022 import VAT scheme is the latest new addition. This can be VAT
What customs documents and processes should UK importers observe since 1 January 2022 following the ending of Customs controls and tariffs easements Since 1 January 2022, the UK has ended the customs admin and controls suspension on imports coming into the UK from the EU.
Following the introduction of Postponed VAT Accounting – a deferment scheme for import VAT – the Irish Ministry of Finance has provided further restrictions . PVA allows Irish VAT registered entities to avoid paying import VAT on goods coming into the country. It was implemented
Easement on temporary movements of goods between NI and GB The UK’s HMRC has provided some additional import tax reliefs on the movement of goods between post-Brexit Northern Ireland (NI) and the rest of the UK (GB). Goods which are only making a temporary movement
Norway is to implement Postponed VAT Accounting to enable imports to avoid the cash payment of VAT on entering into free circulation into the country. This will be effective from 1 January 2017. Deferred import VAT via reverse charge Import may no longer be paid
