5 July 2013
Greece has followed many other EU member countries by introducing a VAT deferment / warehouse scheme to help attract importers and stimulate trade. The scheme will enable EU importers to bring in goods VAT free under certain circumstances.
Importers may now avoid the cash flow problems of having to declare and pay Greek VAT at the point of importation, and sell the goods on into free circulation. This only applies if the goods are for onward supply by aircraft or sea vessels. Importers must also have a regular amount of imports above €300k per annum to qualify, and then export over 90% of these imports. Importers must apply for a special approval to be granted the VAT exemption.
LATEST NEWS
EU confirms €3 customs duty and VAT treatment for...
From 1 July 2026, the EU will remove the current customs duty exemption for goods valued at €150 or less. Instead, a temporary €3 customs duty per item...
SEE MORE
LATEST NEWS
EU council struggles to agree on the removal of the...
The EU is struggling to finalise changes to its Import One Stop Shop (IOSS) system as part of the 2028 Customs Reforms, with member states divided over plans...
SEE MORE
LATEST NEWS
Austria proposes a €2 customs charge on a per parcel...
Austria is proposing to impose a €2 charge on e-commerce low-value imports (under €150) entering Austria from outside the European Union from October...
SEE MORE