RMB Insider Webinar :
Busting the myths around EU VAT
We are delighted to share with you the recording of our webinar co-organised with the Department for International Trade (DIT) and the British Embassy of Paris, Unsworth and BBL group.
This webinar took place on February 15th, 2022 and focused on Busting the myths around EU VAT.
Thank you all who attended and don't hesitate to reach out to us for more information.
Focus of the Webinar :
Since January 1, 2022, the VAT due on imports is no longer collected by the French customs authorities but is automatically reverse-charged on the importer's French VAT declaration. Import VAT is no longer paid to French customs agents, therefore avoiding sometimes costly and painful processes for customs goods clearance in France.
Companies eligible for the import VAT reverse charge mechanism are:
– French companies that automatically benefit from the reverse charge of import VAT,
– Foreign companies that need to have a French VAT number in order to import products into France from a country outside the EU.
In addition to the disappearance of the import VAT advance during customs clearance, many consequences now impact the VAT reporting process for companies:
– Pre-filling of the French VAT declaration by the French tax authorities,
– Necessary verification of import operations with customs authorities,
– Correct reverse charge of VAT due on importation on the French VAT declaration,
– Mandatory French VAT registration for foreign companies.