KR Group Value Added Mornings artwork

European VAT system for US-based businesses

KR Group Value Added Mornings

English - August 02, 2021 14:11 - 37 minutes - 34.7 MB
Entrepreneurship Business Management vat intermediary vat digital tools vat return eu european union vat compliance 8th vat directive 13th vat directive american firms eu vat vat reclaim distance sellers vat Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: VAT e-commerce package. A simple guide to Import One-Stop-Shop for non-EU sellers & online marketplaces as VAT deemed suppliers. (PART II)
Next Episode: Tax digitalization around the Europe (PART I)

In our new episode Jonathan Matthews (VAT Global, UK) and Alex Bradean (KR Group, Romania) are explaining how the EU VAT rulles apply to your business.  

 

During today’s discussion, we will guide you through the essence of the EU VAT system, focusing on the VAT registration procedures, the appointment of the fiscal representative and the way of charging the local VAT rates correctly to customers.  

 

Outline:  

 

2:49 - When does VAT registration become mandatory in Europe for US companies?  

 

3.52 - When could B2B transactions be exempted from the obligation of VAT registration?

 

5.43 - When, in which circumstances, might American companies use the VAT number in Europe?

 

7:36 - Is there anything link single European VAT registration for the American companies?

 

9:15 - Is the VAT registration needed in advance, before the sale is made and good arrived in Europe?

 

10:17 - Which institution can grant the VAT number?

 

10:55 - On which parameters or the US firm should select the country of the VAT registration?

 

11:43 - How long does it take to get a VAT number?

 

13:53 - What documents would American company need to submit in VAT registration process?

 

15:09 - Who is the fiscal representative? Is mandatory to appoint fiscal representative?

 

18:07 - How to avoid common VAT registration mistakes?

 

20:36 - Is opening a bank account locally needed when registering for VAT in Europe?

 

22:12 - Is Import One Stop Shop a mechanism available for the US companies?

 

24:10 - Is VAT OSS registration more complicated than standard VAT registration?

 

24:54 - What are three main challanges for US companies in Europe?  

 

26:23 - Would US companies be verified before the VAT registration (in terms of UBO or KYC procedures)?  

 

27:50 - How does voluntary VAT registration look like?

 

30:26 - Bussiness cases: companies seling software(1), companies organising conferences (2)  

 

34:35 - When VAT can be reclaim?