As you may know, the Reverse Charge procedure is an alternative to the French Commercial Exemption. The main advantage is that you do not need to disburse the VAT on the value of the vessel upon importation and there is no need to respect the “70% rule”.
VAT is accounted for on the importation declaration. However, if the “70%” rule is not respected, then the purchases made within the scope of your commercial activity will have to be VAT-rated.
The conditions to benefit from the Reverse Charge depend on whether your company is established inside or outside the European Union (EU).
If it is inside the EU, the company needs to prove that it has executed at least 4 importations during the 12 months preceding the Reverse Charge authorization request.
If it is outside the EU, then the company simply needs to appoint a VAT and a customs representative.
Please also take into consideration that this procedure is time consuming. Indeed, the Owning Company must first obtain a French VAT number and then obtain a customs authorization.
In any case, YMCA is here to assist you with this procedure.
Do not hesitate to contact us for further details.
T: +33 (0) 492 004 390
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