Belgium raises Intrastat arrivals threshold 2015
- Dec 22, 2014 | Richard Asquith
Belgium is to raise its Intrastat arrivals reporting threshold at the start of 2015 from €700,000 to €1,500,000 per annum. This goes alongside the Belgian VAT regime.
Intrastat is the reporting regime which enables countries in the European Union to track the movement of goods across each others borders. It was introduced in 1993 with the start of the Single Market for Goods. This dropped customs reporting.
Arrivals is the term for ‘imports’ by a VAT registered company into and EU country. The opposite, ‘exports’, is known as Dispatches. Every EU country sets the annual Intrastat registration thresholds for Intrastat reporting. Aside from helping monitor the amounts of trade flows, Intrastat is important.
There will be no change to the Belgian Dispatches threshold, which will remain at €1 million per annum.