What is customs procedure 42?
Customs procedure 42 is a mechanism an EU importer uses in order to obtain a VAT exemption. It is applied when goods imported from outside the EU into a Member State will be transported to another Member State. In such cases, the VAT is due in the latter - the Member State of destination.
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Although customs procedure 42 has been applied in Lithuania for a number of years, there are still questions from declarants and companies on how to declare goods and what actions should be taken … after customs clearance. We provide an overview of the questions and answers and also point out why fiscal representation in Lithuania is rarely used.
Jolanta Diktanienė
Although customs procedure 42 has been applied in Lithuania for a number of years, there are still questions from declarants and companies on how to declare goods and what actions should be taken after customs clearance. We provide an overview of the questions and answers and also point out why fiscal representation in Lithuania is rarely used.
Jolanta Diktanienė
This article explains, how a company can import into and sell from Belgium, Germany and the Netherlands using a fiscal representative. The main benefit of using fiscal representation is to avoid … actual VAT payment at the moment of import by using customs procedure 42 or a license for deferring the import VAT.
Jan van Beek
This article explains, how a company can import into and sell from Belgium, Germany and the Netherlands using a fiscal representative. The main benefit of using fiscal representation is to avoid actual VAT payment at the moment of import by using customs procedure 42 or a license for deferring the import VAT.
Jan van Beek
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