If you are doing business on a global scale there is a good chance that you are obliged to register for VAT purposes in one or more countries. This comes with numerous requirements and obligations that you will need to comply with. And to make things more complicated? It differs from country to country. Global VAT Compliances’ specialized services make sure you are fully VAT compliant, so you can focus on your expanding business.
We investigate whether a VAT registration is necessary for your business or if alternative solutions are available. If a VAT registration is the best option for you, we prepare and file all required documents on your behalf, in order to be issued all required VAT numbers as soon as possible. Should you need local VAT representation to acquire your VAT registration, we can act as your Fiscal Representative in all necessary countries. Thanks to our excellent and long-lasting working relationships with tax authorities around the world, your VAT registration will be a smooth and efficient process. Our wide range of VAT compliance services in addition to our all-inclusive approach, ensure further assistance once your VAT number is granted:
> VAT reporting obligations
> Compliance of legal invoicing requirements of sales and purchase invoices
> ERP system implementation support according to VAT requirements
A Fiscal Representative is a tax registered company which will manage your queries and filing obligations while dealing with the tax authorities. Certain countries require you to appoint a Fiscal Representative when your company is established outside the European Union to be completely complaint with your VAT obligations. Alternatively, even if it is not mandatory, fiscal representation can create VAT and cash flow advantages and Global VAT Compliance will make sure you benefit from them.
Fiscal Representative requirements
Please consider that many countries handle strict requirements when granting a Fiscal Representative license. As such, Global VAT Compliance is fully up-to-date with these requirements and in regular contact with tax authorities in several countries.
Fiscal Representation can help you maximize your benefits from the following
> Import VAT deferment license
> VAT Warehouse
> Reverse charge
> Zero-rated trading of excise goods
In some cases, the Fiscal Representative may be jointly liable for all VAT payments of the company. Because of this, it is industry practice to require a security deposit or bank guarantee in favor of the Fiscal Representative to mitigate against potential risks if the company reneges any of their liabilities.
Once your business is registered for VAT, you will need to make sure that it is complying with local VAT reporting obligations. Global VAT Compliance’s in-depth knowledge and experience ensure your VAT reporting is always accurate and timely so you are fully VAT compliant.
We can assist you with:
> Preparation and filing of VAT returns that meet all local requirements of your specific business activities
> Monitoring of distance selling thresholds and VAT rate changes relevant for pricing and billing
> European Sales Listings for your cross-border EU transactions
> Intrastat returns for your flow of goods involving EU countries
> Any other reporting’s including:
– Annual VAT returns
– European Purchase Listings
– Local sales listings
– VAT recovery