Intrastat: What is it and how is it relevant to you? We answer three frequently asked questions.
The Office for National Statistics for the European Union, Eurostat, collects data concerning the trade of goods on an intra-EU level (Intrastat). The goal of these statistics is to permit an analysis of the individual market and their policy development with regard to the single market.
In fact, European firms, which are subject to VAT and whose yearly amount of purchases or sales are above a certain threshold, must fill out detailed accounts of their transactions with other EU member states.
In this respect, the ruling (CEE) no330/91, madeby the Council on 7th November 1991, has established a data collection system which has been simplified by the European Parliament’s ruling (CE) no 638/2004 made on 31st March 2004.
The collected data concerns:
- Export of goods leaving one EU member state to be delivered to another EU member country.
- And the import of goods arriving into one EU member state, coming from another EU member country.
Which goods are concerned with this ruling?
Goods which are subject to an Intrastat declaration are the following:
- Electrical items,
- Specific goods or movements (industrial plants, boats and aircraft, sea products, supplies for vessels and aircraft, military goods, space vehicles, waste products etc.).
Which companies must give this information to the Eurostat?
The European firms which are subject to VAT and who must give their information to Eurostat are:
- Companies which have entered into contracts and which will now require the shipment and delivery of these goods,
- Companies who are in the process of or have already delivered goods,
- Companies which have imported goods.
When should you begin to fill out Intrastat declarations?
Every EU member country will reveal the threshold, at the latest, on 31st October of that year. If the thresholds are surpassed the firm must complete their Intrastat declarations. This limit remains the same for a whole year. The thresholds for intracommunity deliveries and intracommunity acquisitions are decided upon separately.
For example, in France, an Intrastat declaration called « Déclaration d’Echanges de biens » (DEB – a French Intrastat declaration for the trade of goods) must be completed by a firm if subject to one of the following two conditions:
- Throughout the year, if the company has an amount of intercommunity acquisitions which exceeds or is equal to €460 000 then the firm is subject to a DEB from the first month of the relevant calendar year.
- The firm has exceeded the €460 000 threshold. In this case, the DEB is completed from the first month that the threshold was surpassed.
On the other hand, a DEB for exports must be made from the first intercommunity delivery regardless of the amount. The firm need only complete a simplified declaration when the intercommunity deliveries do not reach the €460 000 threshold. Once this threshold is exceeded, the firm would have to begin completing detailed declarations.
The declaration must be made on the 10th working day of every month. In the case that the declaration is not made or completed late, the firm will receive a fine of €750 per declaration.
If you think that this matter applies to you, it is important to ensure substantial understanding of all relevant information, facts and procedures. Here at Maupard, we would be more than happy to advise you on the next steps and to allow you to make the most of these opportunities.
Do not hesitate to contact us by telephone on +33 (0) 1 53 93 94 20 or by e-mail to [email protected], so we can work out the needs of your business. Our team of experts is here to answer any questions you may have.