Import of goods by agents on behalf of VAT registered persons

Can someone please explain VATP012 - Import of Goods by Agents. TIA

...

Alina

05/09/2019 15:01:11
Replies
Banan05/09/2019 15:04:15

The clarification states that the VAT registered importing agent acting on behalf of the VAT registered owner of the goods would be required to make a negative adjustment in 'Box 7' of the VAT return to nullify the amount pre-populated in 'Box 6' of the VAT Return. Simultaneously, the VAT registered owner of the goods is required to make a positive adjustment in 'Box 7' of the VAT return to include the value of goods imported on its behalf by the importing agent. Where both parties do not wish to make the adjustments stated above, the importing agent may issue a statement to the owner as prescribed in Clause (7) of Article 50 of the VAT Executive Regulations.

0 Like  

Q&A

Submit Query



close x