VAT compliance intro
VAT compliance is much more than filing VAT returns. VAT compliance should indeed start with the analysis of companies cross border operations themselves, how the documents are issued, where transfers of ownership take place, what are the Incoterms uses, who between the seller or the buyer takes care of the transport, …
The challenge
- VAT returns are different in all countries,
- Often not available in English,
- Dates and periods of submission not harmonized,
- Different implementation / interpretation of the European VAT Directive regulations in different EU-countries.
RM Boulanger is one of the few independent firm really specializing in European VAT for cross border transactions. RM Boulanger provides VAT compliance and advisory services and is one of the major players in this field of activity.
Our work
- efficiency and automated tools
- follow up deadlines or specific local rules exceptions.
- own IT VAT tool
- the data are integrated automatically in our system
- all documents are scanned.
1. Collection of data
Depending on the EU-countries, VAT returns have to be submitted on a monthly, on a bimonthly or on a quarterly basis. Based on this, our clients provide us with all their figures and documents related to the previous period so that we handle our VAT compliance mission properly.
2. Calculation of VAT
The aim of VAT compliance is to have VAT paid to the local Tax Authorities in due time. Even if the great majority of cross border transactions are exempt of VAT, VAT has to be calculated and reported in the right box of the VAT return. VAT compliance also includes the application of the right VAT rates which are different according to the kind of goods or services sold. Again there is unfortunately no harmonization between EU-countries about VAT rates.
3. Filling of VAT returns
Once VAT is calculated and the operations reported in the right boxes of the VAT form, it can be submitted to the local Tax Authorities. This is actually the last step of our VAT compliance mission. For your information, VAT returns are submitted electronically in most EU-countries and VAT payments can be done through bank transfers.
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