VAT on imports – new in July

If goods are imported to Slovenia later than on June 30th, 2016, importers do not have to pay VAT to Financial authority anymore. They account for VAT in VAT form, thus fulfilling their legal obligation and VAT payment.

Simplified case:

Importer d.o.o. imports goods in value of 10.000 EUR on May 25th, 2016. The same day he receives custom clearance documents, containing VAT obligation in amount of 2.200 EUR. This amount has to be paid to clearance agent until June 15th (or prior to that date if so agreed between them).

Importer d.o.o. will submit his VAT form to Financial authority on 20th of May, 2016. He will be refunded excess VAT on 11th of July.

Importer thus acts as a creditor to Republic of Slovenia for 26 days (from 15th of June, 2016, when VAT will be paid, until 11th of July, 2016, when refund will be received).

From July 1st on we will have a new situation:

Importer d.o.o. will import goods in value of 10.000 EUR on 4th of July, 2016. The same day he will receive custom clearance documents, containing VAT obligation in amount of 2.200 EUR. This amount will be accounted for in VAT form for July. Thus, his obligation towards Financial authority will be fulfilled.

Importer will just have to book VAT correctly and will no longer act as a creditor to Republic of Slovenia.

Day to day business of importers, agents and Financial authority will be simplified, unnecessary liquidity burden gone.

Importers, who do not have valid Slovenian VAT ID, will have to pay VAT old way.

Additional info available to our cliens free of charge, others be kindly invited to use our reasonably priced counseling service (see our offer).

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