As of January 1st 2010, the system for claiming repayments of VAT incurred in other member states will be moved online. It is hoped that the new system will be more efficient and speedier than the old paper-based system.
Prior to January 1st this year, reclaiming VAT payments made in other member states involved submitting a claim to the VAT authority of the member state in question - a time-consuming (and sometimes expensive) exercise. Under the new system, claims must be made online to H.M. Revenue & Customs. It will not be necessary to submit invoices to support the claim, and it is hoped that standardised codes will reduce the amount of information to be supplied in another language.
No comments:
Post a Comment