BKR Tax meeting Amsterdam 26th November 2012

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2 26 Th November 2012 May we introduce ourselves? Hans Maessen Director Maco Customs Service T: +31 (0) E: Rob Zevenbergen Chairman Flynth VAT group T: +31 (0) E:

3 Agenda: Rob Zevenbergen: VAT Domestic / foreign registration Article 23 Article 12.3 reverse charge Administrative obligations: Hans Maessen: Importing, storing and distributing goods in the EU. Customs and VAT aspects and possibilities Customs and VAT in the EU Importing goods in the Netherlands General Fiscal Representation Limited Fiscal Representation Comparison.

4 When is VAT registration in the Netherlands obliged? Services; place of supply is deemed in the Netherlands and no reverse charge mechanism applies (the Netherlands have a very extended reverse charge!) Import of goods and subsequent delivery in the EU Intra community acquisitions in the Netherlands Distance sales if exceeding the threshold in NL Storing of stock in the Netherlands followed by local supply / Call-of stock Fictious intra-community acquisition (transfer of stock to the Netherlands)

5 1) Foreign entrepreneur X 2) domestic entrepreneur

6 Domestic entrepreneur Domestic entrepreneur must have a certain presence in the Netherlands constituting a permanent establishment to qualify as a domestic entrepreneur A permanent establishment is an industrial or commercial establishment located in the Netherlands that is equipped with sufficient manpower and other resources to operate as an independent business. The establishment is used for supplying goods and/or services to third parties. Examples of permanent establishments are: a shop or another fixed retail outlet; a workshop or a production plant with an adjoining office A store, a warehouse or an office that is used only for certain ancillary or secondary activities (such as performing research, advertising or distributing information) is not regarded as constituting a permanent establishment.

7 Foreign VAT registration Reverse charge Payment of import VAT Payment of local VAT B2B local IMPORT Payment of local VAT B2C B2B foreigner

8 Payment of import VAT Filing VAT return Import VAT & local VAT reclaim balancing with VAT due B2C and B2B foreigner Refund of VAT January february March April May June

9 Domestic VAT registration (permanent establishment) Reverse charge of import VAT Article 23 code Payment of local VAT Payment of local VAT B2B local IMPORT Payment of local VAT B2C B2B foreigner

10 import VAT reverse charge NO IMPORT VAT DUE! Filing VAT return Import VAT is: + and -/-same VAT return Reclaim local VAT balancing with VAT due B2B +B2C + B2B foreigner January february March April May June

11 Foreign VAT registration with fiscal representative Reverse charge Reverse charge of import VAT Article 23 code Payment of local VAT B2B local IMPORT Hans as your Fiscal representative Payment of local VAT B2C B2B foreigner

12 import VAT reverse charge NO IMPORT VAT DUE! BKR Tax meeting Amsterdam Filing VAT return Import VAT is: + and -/-same VAT return B2B is reverse charge Reclaim local VAT balancing with VAT due B2C + B2B foreigner January february March April May June

13 Article 23 code; reverse charge of import VAT Only for domestic entrepreneurs or foreigners with a fiscal representative ( FR ) Domestic entrepreneur: regular import Fiscal representative: incidental import is sufficient Bookkeeping which provides up to date data to establish de VAT due related to the reversed charged import VAT. Imported goods are separately administrated in the books On the moment of import declaration, a copy of the invoice bill of loading etc are shown clearly mentioning the final recipient and his VAT number or the VAT number of the FR. Not applicable for cars, vans and motorcycles; an additional permit is required

14 Administrative obligations in the Netherlands: BKR Tax meeting Amsterdam VAT return o Quarterly ; main rule, o Monthly ; on request ( f.e. if refund position) or direction of the inspector, o Yearly ;<1883 VAT payable. Ic-sales listing o Quarterly; main rule, o 2 monthly if the threshold of euro has been exceeded in the second month, next monthly have to be filed, o Monthly: >euro per quarter for deliveries. For services still quarterly but an option to file it also monthly, o If filing a yearly VAT return, an IC sales listing can also be filed yearly if all supplies of services and deliveries of goods > & yearly IC deliveries < & no ICA of motor vehicles. Intrastat: o The annual threshold for imports/ica and for exports/ics < 900,000; applies separately for imports and exports. o monthly; within 10 working days after the ending of the month.

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16 Importing, storing and distributing goods in the EU. Customs and VAT aspects and possibilities Hans Maessen Maco Customs Service

17 Customs and VAT in the European Union Customs code (unified through regulations) Customs code for European Union Same import duties and regulations in all member states Level playing field National customs organizations VAT directives (harmonized) National VAT laws Different VAT percentages in the member states No level playing field Considerable differences in VAT legislation per member state

18 Importing goods in the EU Customs Warehouse (classical approach) Import declaration Import Duties have to be paid On behalf of a registered company (BV ) with Art 23 (=VAT deferment account/reverse charge mechanism) On a VAT registration without representation (direct registration) For EU and non-eu registered companies Fiscal receiver On a VAT registration with representation For EU and non-eu registered companies General Fiscal Representation (GFR) With a bank guarantee With article 23 permission (deferment account) By a customs broker under Limited Fiscal Representation Using the art 23 permission for reverse charge on import VAT of the Limited Fiscal Representative

19 General Fiscal Representation Represents a EU or non EU-company for all VAT-matters Is liable for all VAT-activities of the represented company in the EU Has all rights of a regular VAT-registration of any other company No (consequences for) company tax. Representing (Dutch) company has to give the bank guarantee Basis guarantee 1 month of import VAT turnover Can be reduced to 5% Confirmation of registration by tax office in home country GFR liability is maximised to the bank guarantee For 5 consecutive years Counter bank guarantee is asked by GFR Contract with GFR necessary Can be done by any Dutch company inclusive customs brokers Maximum VAT flexibility and freedom without legal registration in EU (the Netherlands)

20 Limited Fiscal Representation (1) Linked to a specific import declaration Import declaration by a customs broker with permit for LFR Customs Broker is fully liable for the VAT on that specific transaction Many import transactions can be done in a row Customs Broker is liable for VAT on import and the following transaction Following transaction: Intra communitary transaction (to a company in another EU-member state) sale to a Dutch company: art 12.3 Dutch VAT law Export to a company outside the EU.

21 Limited Fiscal Representation (2) LFR has to prove the delivery and destination of the goods LFR has to give a bank guarantee to tax authorities LFR needs an authorisation of the buyer (or seller) of the goods In the Netherlands goods can be stored and thus distributed No contract between LFR and represented company Immediate and easy use is possible Often used by companies in countries where no import VAT deferment account is possible (Germany). Liquidity advantage for receiver / buyer, since no import VAT has to be paid.

22 Limited Fiscal Representation (3) Keep stock without any legal presence or registration Distribute goods to all destinations Cooperation with a reliable logistics company is needed Not all customs brokers do this Best start-up approach

23 Comparison LFR / GFR General Fiscal Representation For more complex and long term operations Acquisition and sale of all goods and services No involvement in company tax etc. Many times in combination with VAT deferment account (art 23) Bank guarantee etc Limited Fiscal Representation Quick and easy use Used mainly by straight import transactions Storage and distribution is also possible No contracts, no specific permits, no bank guarantee Done by customs brokers

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26 The speakers After finishing his MBA-study at the Erasmus university in Rotterdam in 1985, Hans Maessen started running Maco Customs Service, a family enterprise. Being in the customs broker industry for more than 25 years, he has become an expert in customs, but also VAT, with a specialization in European Fiscal Representation. As independent customs broker, Maco employs 45 customs specialist with offices in Rotterdam, Antwerp and Maastricht Maco offers its services to companies all over the world. Hans also is the chairman of the customs council of Fenex, the Dutch organization for forwarders and custom brokers. Rob Zevenbergen studied Direct as well as Indirect taxation at the University in Leiden. After finalizing his studies in 1996 he was recruited by PW, later PwC, as a VAT specialist. Almost six years later he joined the ANWB, the biggest association in the Netherlands, with 4.2 million members, as a fiscal advisor specializing in VAT. In 2009, Rob was hired by Flynth to set up a nationwide VAT team. In the beginning of 2011, Flynth merged with GIBO Groep and Rob was appointed chairman of the VAT group. Flynth employs approximately 2,000 accountants and advisors in over 70 offices, thus being the biggest national provider of accountancy and advisory services in the Netherlands.