vat terms defined

5/20/2014 1

What Is The Meaning Of…

VAT Terms

Defined

What Is The Meaning Of..

VAT Terms

DEFINED

What Is The Meaning Of…

VAT TERMS DEFINED

5/20/2014 2

EXPORT

This is the term that

applies to the supply of

goods exported from

Member States to any

country outside the EU

(also referred to as third

countries)

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IMPORT

This applies to goods

imported into a Member

State from any country

outside the EU.

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FREE CIRCULATION

After goods are imported into

the EU, they are then in free

circulation. This means that

they are free to travel inside

the EU without paying

customs duties or further

border controls.

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DISTANCE SALE

.

This is a sale of goods dispatched or transported by (or on behalf of) the

supplier from one Member State to specific types of customers in another

Member State who is not registered for VAT, such as non- taxable persons.

Distance sales commonly include sales of goods made by mail-order

catalogue and goods sold online via the Internet.

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