Finland import VAT deferment 2018
- Dec 6, 2017 | Richard Asquith
Importers of goods from outside of the EU into Finland will benefit a import VAT deferment from 1 January 2018.
Importers with a Finnish VAT number will no longer be required to pay the import VAT on clearing the goods. Instead, they can wait to self-assess the VAT via their periodic VAT return. The reforms come as the responsibility for managing Finish import VAT moves from Customs to the Tax Administration.
The legislative changes 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 be still levied by the Finnish Customs at the time of customs clearance. The legislative changes will also have no impact on the customs procedures used by taxable persons. Finnish Customs will also continue to oversee importation procedures and be responsible for crime prevention.
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