Introduction customs & supply chain VAT

The first session of the Customs Academy provides an introduction to indirect tax and supply chains by explaining how to deal with customs and VAT, pointing to several attention points and possible risks of operating complex supply chains in the European Union, and explaining some basic customs and VAT concepts.

Below you can find the key takeaways.

• Understand the impact of indirect tax on your supply chain
  Ensure you have reviewed the supply chain to understand the impact of customs and VAT on the movement of goods and the indirect tax obligations.
  
  
• Importing into the EU
  Make sure the import VAT deduction is based on the taxable base mentioned on the import document, also reflecting the correct addressee. Cash-flow advantage through an import VAT deferral license.
  
  
• VAT aspects of intra-EU trade
  Don’t forget that movements of goods between EU Member States may entail foreign VAT registration and compliance obligations. Make sure you are aware of simplifications and special arrangements that can prevent unnecessary VAT registrations resulting from EU trade.
  
  
• Exporting outside the EU
  Be aware of who should act as exporter for customs and VAT purposes and make sure that the export declarations contain the correct data. Don’t forget that the VAT exemption for export can only be successfully invoked if a company keeps the necessary proof of exit.

1. Introduction to the KPMG Customs Academy
   
2. Import of goods
3. Export of goods
4. Intra-EU trade
5. Key takeaways

If you missed the first session or would like to revisit it, we invite you to watch the recording and download the slides.