Acquisitions from other EU Member States
The intra-Community supply and acquisition of goods occurs where goods are dispatched or transported between businesses in different Member States of the European Union (EU). For Value-Added Tax (VAT) purposes, two transactions are deemed to have occurred:
This section is concerned with the treatment of the ICA of goods. An ICA refers to the acquisition of moveable goods by a business in one Member State from a business in another Member State of the EU. In these transactions it is the purchaser that is required to self account for the VAT as if he or she had made the supply themselves.
This section explains:
- what self accounting for VAT is
- what information you must provide to Revenue on your ICAs
- when you are required to register for VAT because of your ICAs
- when you must account for VAT on branch to branch transfers
- what VIES and Intrastat returns are
- what happens when you purchase a new means of transport from another EU Member State.
Next: Self accounting for VAT