VAT is an indirect tax which applies to most goods and services supplied in the EU and a large number of other countries worldwide. Unlike Sales Tax, VAT is a system whereby VAT is charged to customers but can be recovered on purchases by suppliers via the EU's VAT Refund Directive, or by completing local VAT Returns.
The Complications
Although the EU has created a general framework for VAT legislation, the 27 member states often have different interpretations of law - which causes inevitable complications. Each country can set its own rates for VAT, sales thresholds for VAT Registration and specific VAT reporting requirements.
Your Responsibilities
Unlike Corporate Taxes, VAT doesn't necessarily require you to maintain a physical business presence in a country to become liable to register for VAT. Failure to register and account for VAT correctly can have serious financial implications as each country applies its own system of penalties and interest charges. It is crucial for any business working in or importing into Europe to consider its VAT obligations carefully.
How Accordance can Help
Accordance has, for many years, been assisting a full spectrum of international businesses manage their VAT compliance, especially in relation to cross-border transactions. With all major European languages spoken in our office, we provide practical, commercially beneficial VAT assistance to blue-chip companies across the EU and beyond. Our aim is to simplify the experience of local and cross-border VAT for businesses, through a policy of practical engagement with our clients and their indirect tax issues.
Our operating principles:
Practicality: Commercial, pragmatic, common sense solutions that make sense of the complexity of international VAT.
Engagement: An active, connected, professional and friendly style of client service.
Coordination: To operate as a single coordination point for Compliance and Consulting across the EU.
Innovation: To develop our unique combined Compliance & Consulting and Direct Contact approaches, add value and improve service.
Progressive Management: A forward looking and open approach to management practices, policy and strategy.
Responsibility: Balancing clients' international tax obligations with their commercial needs.
Services
VAT Registration & VAT Returns
VAT Compliance & Savings Reviews
Intrastat and EC Sales List Reporting
Worldwide VAT Refund Services
ERP VAT Coding Support
VAT Compliance Training
Contact
Olaf Dierks - Senior Business Development Manager
Accordance
Tower Point
44 North Road
Brighton
BN1 1YR
Tel: +44(0)1273 573 941
Fax: +44(0)1273 733 522
