Finland to defer VAT on imports to VAT returns

21 December 2017

From 1 January 2018, Finland will change the rules on accounting for VAT when importing goods into the country by allowing VAT registered businesses to defer the import VAT to their VAT reporting.

This will in effect remove the requirement to pay import VAT on goods at the time they are imported, which could result in savings on shipping costs and bank charges. It should also improve cash flow for businesses importing into the country, as they will no longer need to wait for the VAT to be refunded from the Finnish tax authorities.

LATEST NEWS

Does a UK e-commerce business need an IOSS...

From 1 July 2021, the EU’s new e-commerce VAT reforms will be introduced allowing sellers to no longer pay import VAT at clearance on low-value consignments...

SEE MORE
LATEST NEWS

Lithuania cuts hospitality VAT to 9% until 31 December...

Lithuania will cut the VAT rate applicable to hospitality, sporting, and cultural services from the standard VAT rate of 21% to the reduced rate of 9%. To...

SEE MORE
LATEST NEWS

Belgium to cut e-book VAT rate from 1 January 2022

From 1 January 2022, the Belgium tax authorities have confirmed that the VAT rate on the sale of e-books, e-manuals, e-newspapers, and e-magazines sold online...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.