Understanding Box B2 of VAT Return: Key Points for Intra-Community Acquisitions and Reverse Charge

• Box B2 of the VAT return is important for reporting intra-community acquisitions
• Intra-community acquisitions refer to goods purchased from another EU member state
• Transfers of own assets between EU member states must also be reported
• Physical flow of goods is the key criterion for determining intra-community acquisitions
• Amount excluding taxes must be reported in box B2 and box B of the VAT return
• VAT must be autoliquidated in box 21
• Failure to autoliquidate VAT on intra-community acquisitions can result in penalties
• Taxable persons exempt from VAT and partially recoverable persons have additional obligations
• Some businesses may be required to report intra-community acquisitions in the statistical survey statement at the introduction (DEB)

Source: cyplom.com

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.

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