by Hannelore Durieu and Bert Vandorpe
The European internal market has allowed many SMEs and large companies to flourish and grow. After some time, a company often wants to enter other markets and do business in and with countries outside the European Union. Besides the extra opportunities, this new step also entails the inevitable risks and formalities. In this article we will focus on some of these formalities.
To trade outside the European Union, as a company you must first register with customs. This is done by applying for what is known as an EORI number. By obtaining this number you are able to export goods to and import goods from non-European countries.
However, if you as a company regularly import goods, then you can certainly also benefit from applying for an E.T. 14.000 permit. This permit ensures that you do not immediately have to pay the VAT due on the import of goods. In that case, you may shift the VAT to the periodic return. This avoids a large prefinancing cost.
In the context of the Brexit, possession of an EORI number and an E.T. 14.000 permit is becoming essential for many companies. Since the United Kingdom is one of our most important trading partners and will probably remain so in the future, Belgian companies will be confronted with these specific formalities much sooner.
Are you lacking an EORI number or an E.T. 14.000 permit? Then Vandelanotte can certainly help you with the application. For more information, please feel free to contact your account manager or one of our specialists via firstname.lastname@example.org.
In our opinions, we rely on current legislation, interpretations and legal doctrine. This does not prevent the administration from disputing them or from changing existing interpretations.
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