From 1st January, 2018 importers of goods from outside of the EU into Finland will benefit from an import VAT deferment.
Going forward importers with a Finnish VAT number will no longer be required to pay the import VAT on clearing the goods. In its place, they can wait to self-assess the VAT via their periodic VAT return. The reforms come as the accountability for managing Finnish import VAT moves from Customs to the Tax Administration.
These legislative modifications do not affect how VAT applies to importations made by private persons or by businesses that are not registered for VAT in Finland. VAT on importation will in these cases still be charged by the Finnish Customs at the time of customs clearance. These legislative alterations will also have no impact on the customs processes used by taxable persons. Finnish Customs will also carry on overseeing importation procedures and be accountable for crime prevention.
amavat® provides a one-stop-shop solution for VAT Compliance within Europe. We assist clients with a single point of contact that speaks their language and handles all VAT related issues with a standard and cost efficient approach.
If you have any queries or questions, please do not hesitate to contact amavat®.
To find out more information please visit www.amavat.eu