TYAML - Yet Another Multicolumn Layout for TYPO3

    Special Topic Pharma Logistics

    Drug Products: Generate cash flow advantages on the im-port tax (VAT) by making use of a fiscal representative

    Neither a non-EU nor an EU company that have a VAT registration can easily use the VAT transit rule when importing drug products. This means that VAT has to be paid on imports of goods from outside the EU. Of course, this VAT can be reclaimed via the next monthly or quarterly VAT declaration. However, this means a cash flow disadvantage because import VAT needs to be pre-financed. Thus companies located in non-EU countries (e.g. Switzerland, USA, South America, Russia, etc.) planning to import their drug products into EU states should take into consideration to be represented by a fiscal representative for purposes of VAT (Value Added Tax).

    What are the functions and the benefits of a fiscal representative?

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