- Triangular operations in the EU are seen as a complex but essential mechanism for optimizing business operations in cross-border transactions.
- Challenges arise in implementing triangular operations, especially when third parties are involved and transport responsibilities become an issue.
- The main responsibilities and obligations of intermediaries in triangular operations involving third countries are discussed.
- Triangular operations involve at least three entities in three different EU member states, each with their own VAT identification number, engaged in successive transactions with cross-border goods transport.
- Intermediaries are exempt from VAT on acquisition and the subsequent sale in the destination country, with the client declaring VAT through self-assessment.
- Responsibilities related to transport in triangular operations are important, with complications arising if the client assumes transport responsibility instead of the intermediary or supplier.
- Navigating through the specific rules and regulations of each EU member state regarding simplified triangulation can be challenging for businesses.
- Decisions on whether to use local VAT numbers or opt for simplification depend on the rules of each member state.
Source: ayming.fr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
