Import VAT – Current procedure does not allow for offsetting of import VAT against “regular” input VAT

Import industry pushing for changes in import VAT procedures
Fristenmodell introduced in December 2020 for easier payment of import VAT
Current procedure does not allow for offsetting of import VAT against input VAT
Calls for immediate offsetting of import VAT like in other EU countries
Finance ministers conference reportedly agreed to advance offsetting model
Hope for offsetting import VAT in VAT return to be cost-neutral
Potential for significant bureaucratic reduction and competitive advantage for German ports
Reform in VAT procedures can benefit traditional economy as well as digital age industries

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.