If your company generates a turnover abroad i.e. through the purchase and sales of goods and services, it has to register for vat & comply with local fiscal obligations. The lack or delay in complying will incur penalties. As for example If a foreign company, i.e., a company whose domicile is not Australia, sells goods or services to private persons or to other foreign companies that are not VAT registered in Australia, it has to register for VAT in Australia. VAT registration should be done prior to the business event. If a company does not register when legally required, the incurred VAT is not refundable. The main advantage for VAT registration is that the refund process becomes faster and more flexible than the VAT refund process for foreigners according to the 8th or 13th Council Directive.
Registration is mandatory in the following area :-
- Warehousing of goods abroad;
- Event organization;
- Construction projects, decoration and public works;
- Real Estate (construction, technical and management services, etc.);
- Distance sales;
- Fuel sales;
- Sale and lease of equipment and Installation;
- Domestic sales and services.
BT Associates can assist you register your company for VAT in the applicable countries. We will also help you for all your VAT registration and compliance needs including proper recording of transactions, timely completion and filing of VAT returns etc.