Besides freight forwarding and third party logistics services, NBK offers fiscal representation for dealing with customs duties and Value Added Tax (VAT).
Importing your goods into Europe via the Netherlands and then transporting them across the European Union (EU) require compliance with national laws on VAT. Trying to do it alone without the help of experts can be complex. The EU VAT system is complex and subject to change, so keeping up with the latest regulations can be a headache. It can also bring with it significant cash-flow disadvantages.
Dutch tax law requires you to pay import duties and VAT as soon as your goods enter the Netherlands if you do not have fiscal representation. The standard VAT rate is 21%, so you may end up paying a substantial amount before claiming back the tax on your periodic tax return. If you file your return quarterly, you could be waiting up to four months to get your money back. But, by making us your fiscal representative, you pay only when your goods are actually sold to your customers. And here’s another big benefit of this deferral scheme: once import VAT is declared on your return, it can be deducted immediately. In effect, and with NBK’s help the whole matter of dealing with VAT becomes a mere paper exercise.
Import duties and customs duties have to be paid when a non-EU company is importing goods into the EU. Fiscal representation by NBK allows you to import goods into the EU under the reverse charge mechanism. This regulation applies to all EU member states.
Fiscal representation by NBK gives you the following advantages:
- More efficient transport
- Less obstructions
- Improvement of cash flow
- No VAT duty on goods imported to the EU
- NBK will take care of all paperwork regarding your VAT and import duties
- With our in-house specialists and years of experience is NBK your reliable partner for both general and limited fiscal representation.
If you want to find out more about fiscal representation, feel free to contact us.
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