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Spanish rule change


The VAT People - Expert Author

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16th January 2015

Spain has now introduced an import VAT postponement scheme from 1 January 2015. The new Spanish VAT scheme allows the importer to wait to pay back the Spanish import VAT until the next VAT return due date. Previously importers had to pay import VAT at the moment of importation in order to clear the goods through Spanish Customs and then claim the VAT in the next VAT return period. This has a significant impact on cash flow.

As of January 1st 2015 the change allows certain businesses to pay and recover the VAT related to imports directly on the periodical VAT return. As a result, there will be no direct payment at the moment of importation.

Unfortunately the deferment scheme will not apply to all businesses as it is restricted to those filing monthly Spanish VAT returns. This means that it is restricted to large companies who have to file monthly VAT returns under Spanish VAT law, VAT group members and businesses that are on monthly repayment returns.

If you or your client imports goods into other EC member states it would be worth contacting our free VAT helpline for advice. In addition it may well be worth speaking to our sister business The Customs People to establish if there are any Customs Duty implications to consider

About the Author

The VAT People are leading VAT and Customs Duty consultants based in the North West of England. We work with a wide range of businesses throughout the UK as well as assisting our accountancy colleagues to unravel the thorny VAT issues for their clients. We are one of the UK's largest and most comprehensive sources of VAT and Customs advice, our consultancy team having over 140 years of experience in VAT and Customs gained in either HMRC or a Big 4 accountancy practice environment.

Call us on our VAT helpline 0800 077 4604 to discuss. All initial discussions are free with no-obligation.

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Article Published/Sorted/Amended on Scopulus 2015-01-26 10:13:04 in Tax Articles

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