Glossary entry (derived from question below)
Dutch term or phrase:
BTW-verlegging
English translation:
VAT reverse charge mechanism
Added to glossary by
Pierre Grabowski (X)
Sep 13, 2005 15:00
18 yrs ago
2 viewers *
Dutch term
Pierre Grabowski (X)
BTW-verlegging
Dutch to English
Bus/Financial
Law: Taxation & Customs
no further context available - transport
Proposed translations
(English)
| 4 +2 | VAT reverse charge mechanism |
Chris Hopley
|
| 5 | VAT transfer |
Kate Hudson (X)
|
Proposed translations
+2
39 mins
Chris Hopley
Netherlands
Netherlands
Native in English
Specializes in field
Netherlands
Dutch & German to English
Native in: English (Variants: US, Australian, Canadian, New Zealand, British, UK, Irish)
Works in: German to English, Dutch to English, Flemish to English, and 1 more.
Related KudoZ points
:
43
Selected
VAT reverse charge mechanism
Normally, VAT rules prescribe that the place of supply is the place where the supplier's business is established. However, in respect of certain taxable supplies, VAT rules state that the place of supply must or may be somewhere else. Hence the VAT liability may shift from one country to another. This is commonly referred to as a 'reverse charge mechanism'.
-> "The change results in services accounted for via the ‘reverse charge’ or ‘tax shift’ having different cash flow implications from domestic supplies on which, generally, VAT is charged by the supplier and recovered by the customer."
http://www.tax.org.uk/showarticle.pl?id=1851
-> "Calculating VAT: rates and exemptions or reverse-charge
If you supply goods or render services in the Netherlands, you are not always required to charge VAT. If an exemption or reverse-charge mechanism applies, you do not have to charge VAT. The applicability of an exemption or a reverse-charge mechanism should be clear based on the invoice relating to the activity. If you have to charge VAT, one of three different VAT rates will apply."
http://www.belastingdienst.nl/buitenland_uk/buitenland_uk-33...
-> "The change results in services accounted for via the ‘reverse charge’ or ‘tax shift’ having different cash flow implications from domestic supplies on which, generally, VAT is charged by the supplier and recovered by the customer."
http://www.tax.org.uk/showarticle.pl?id=1851
-> "Calculating VAT: rates and exemptions or reverse-charge
If you supply goods or render services in the Netherlands, you are not always required to charge VAT. If an exemption or reverse-charge mechanism applies, you do not have to charge VAT. The applicability of an exemption or a reverse-charge mechanism should be clear based on the invoice relating to the activity. If you have to charge VAT, one of three different VAT rates will apply."
http://www.belastingdienst.nl/buitenland_uk/buitenland_uk-33...
Peer comment(s):
| agree |
Evert DELOOF-SYS
: excellent
43 mins
|
|
thanks!
|
|
| agree |
jarry (X)
: Also known as VAT deferral or deferment scheme
1 hr
|
|
OK, thanks!
|
4 KudoZ points awarded for this answer.
Comment: "Thanks Chris (and you, too, Kate!). Think I'll opt for Chris' answer."
38 mins
VAT transfer
VAT transfer regulation
Where a supplier provides electronic services to an entrepreneur based in the EU, the VAT is levied from the entrepreneur consuming the services. In that case, the supplier is not allowed to charge VAT. The consumer of the services owes VAT at the rate applicable in the Member State where he is based.
Where a supplier provides electronic services to an entrepreneur based in the EU, the VAT is levied from the entrepreneur consuming the services. In that case, the supplier is not allowed to charge VAT. The consumer of the services owes VAT at the rate applicable in the Member State where he is based.
Discussion