Intrastat compliance is not to be taken lightly, but many sellers are at a loss: under what circumstances do I need to make an Intrastat declaration? How to declare? Today, Green Circle is here to bring you a better understanding.
Table of Contents
I. Relationship between Intrastat and VAT, ZM
II. Consequences of Intrastat's non-compliance
C. When to apply for Intrastat
IV. How to make Intrastat declarations
V. Declaration of Penalty
1
Intrastat and VAT, ZM connection
Overall, VAT is the first compliance requirement for every European seller before they can sell their goods. As data on transactions within the EU are collected and organized on a monthly basis, and Intrastat and ZM are specialized reports for "data on the transportation of goods between Germany and other EU countries", sellers need to choose the appropriate reporting method according to the actual situation.
2
Consequences of Intrastat non-compliance
According to the policy announcement, those who meet the Intrastat reporting requirements but fail to submit a timely and accurate return will face a fine of up to €50,000!
3
When to report Intrastat
We all know that EU VAT registration has a "remote sales threshold" concept, and "Intrastat reporting" also has a threshold, generally accumulated in four consecutive quarters (the threshold is calculated based on the previous four quarters of any month or quarter) within the EU member states of the inter-transaction data, once exceeded a specific threshold, you need to start doing Intrastat reporting, and this threshold in each EU member state. There is also a starting point for Intrastat reporting, which is generally the accumulation of data on transactions between EU member states over four consecutive quarters (the threshold calculation is based on the sum of B2B sales in any of the previous four quarters, either monthly or quarterly), and once a specific threshold has been exceeded, Intrastat reporting needs to be started, and this starting point varies between EU member states.
*Monthly filing deadline is the 25th of the following month.
*Quarterly reporting is due on the 25th of the month following each quarter.
The starting points for Intrastat are listed below:
1. DE-EU, ≥50W Euro
The sale of products from the Seller's German warehouse to corporate customers in other EU countries and the transfer of goods from the German warehouse to warehouses in other EU member states amounted to more than €500,000;
2. EU-DE, ≥80W Euro
Sellers purchasing products from German warehouses for corporate customers in other EU countries and transferring goods from warehouses in other EU member states to German warehouses totaled more than €800,000.
4
How to make an Intrastat declaration
The Intrastat reporting process is as follows:
Purchase [Germany VAT-Intrastat Declaration] service;
Submit your declaration offline;
Delivery of collated data, submission of declarations;
Receive proof of declaration.
5
Declaring Fines
Failure to file a timely and accurate Intrastat return carries the following penalties:
(1) Failure to file an Intrastat return: a fine of €500-1000 per return;
(2) Replacement within 30 days from the date of receipt of the notification from the relevant customs authorities: a fine of €250-500 per report;
(3) Submission of incomplete and incorrect statements: a fine of €500-1000 per statement;
(4) Submission of incorrect information: a fine of €100;
*If more than one of the above offenses occurs, the fine will be increased 25%-200%
If you need help with company or VAT registration, welcome to contact us, Green Circle focuses on providing one-stop service for cross-border enterprises, professional team, professional accountants, so that you cross-border sea is no longer difficult!
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