Welcome: Wuhan Yishouzuo Culture Creativity Co., Ltd
Language: Chinese ∷  English

News

New regulations on VAT in the UK or EU

What is VAT?

VAT is a tax on consumer spending. When a VAT registered seller makes sales within the UK or EU, they are obliged to collect VAT based on the delivery country of their goods. This VAT must be passed on to the national tax authorities via VAT return filings.

In most countries it is possible to register for VAT online, and to complete your VAT returns through the local tax authority's website.

In practice, the following three situations will normally trigger mandatory VAT registration in the UK or the EU:

1. Sales of goods which exceed a locally defined threshold.

Note that thresholds vary from country to country and do not generally apply to overseas or non-established sellers. If a seller is selling goods domestically, they should check the threshold with their tax authorities or a local tax advisor.

2. Sales of goods from a local warehouse, by a non-resident seller ( forward deployed inventory ).

3. For the EU only, cross border sales in excess of specific distance sales thresholds. Distance selling thresholds are currently either EUR 35,000 or EUR 100,000 depending on the country to which goods are delivered.

CATEGORIES

CONTACT US

Contact: Jerry Yang

Phone: 15527216646

Tel: 0086-27-87660933

Email: info@handicraftsguy.com

Whatsapp: +8615527216646

Add: Block 155, Limiaoxincun, Wuhan, China

Scan the qr codeClose
the qr code