- Obligations and Reporting Requirements: Businesses registered for VAT in the EU must file Intrastat and EC Sales List (ESL) returns based on specific thresholds for intra-Community transactions. These declarations serve statistical and fiscal purposes, with non-compliance potentially leading to VAT exemption rejections.
- Filing Procedures and Variability: Intrastat returns must be submitted to local customs authorities, while ESL returns are generally annexed to VAT returns filed with tax authorities. The filing requirements and formats vary significantly between EU member states, including submission frequency and the types of transactions that must be reported.
- Penalties for Non-Compliance: Each member state imposes penalties for late or incorrect filing of Intrastat and ESL declarations, which can range from fines to the rejection of VAT exemptions. Utilizing a fiscal representative can help ensure compliance and reduce the risk of penalties due to the complexities of differing national regulations.
Source
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