Is it possible for a company to pay the import VAT via the periodical VAT return?
Yes
VAT on importation must be paid by your company immediately to the customs authorities at the border when the goods enter into the European Union. Postponed accounting via the VAT return is however possible provided the person liable for the import VAT is registered for VAT purposes in Austria. In this case, the persons liable for import VAT will receive a monthly statement from the customs administration in which, with reference to the respective clearances on importation or summary declarations, the import VAT liabilities arising in the month are listed in detail.
A deferred payment for VAT and customs can also be applied under specific conditions. The import duties must be entered in the records by the fifth day of the following month and be paid by the fifteenth day of the following month. This simplification has to be applied for and has to be approved by the customs authority. Key conditions for approval to be granted include:
– reliable accounting;
– no customs offences within a specified period in the past;
– provision of adequate collateral for the duties to be paid later.
Source VATdesk.eu
