VAT and Customs Duty in Overseas Trade

Programme

Imports of Goods from Outside the EU

Customs duty and import VAT implications and procedures
What happens at import
Paying the right amount of duty at the correct value
Importing duty free from preferential countries
Claiming import VAT correctly
Relieving or deferring import VAT and customs duty
Duty deferment
Customs warehousing
Inward and Outward Processing Releifs
Exports - requirements and valid evidence to zero rate
Intra-EU Movement of Goods

Accounting for acquisition VAT
Tax values, tax points, currency conversion
VAT return entries
Dispatches
Reporting requirements
Completing the VAT return correctly
Conditions required for zero-rating
Deemed supplies”and complusory VAT registration in other member states
Simplifications and Liability Shifts
An introduction to trade reporting requirements on the VAT return, European Sales Listing and Intrastat forms
Introduction to International Services

Supplies
Recognising when to charge VAT to an overseas customer and the rules for not charging VAT
Receipts - Accounting procedures for certain types of service - the 'reverse charge'
The rules from 2010 and onwards

One day course 09.30 – 17.00