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International Tax Planning Quiz
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International Tax Planning Quiz

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@ExhilaratingLiberty

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Questions and Answers

Who can deduct VAT in the supply chain?

  • Only retailers
  • Producers, distributors, and retailers (correct)
  • Only producers
  • Only distributors

    • What happens if a good doesn't leave the Member State?

  • It is considered an intra-community supply
  • It is considered a domestic supply and domestic VAT applies (correct)
  • It is exempt from VAT
  • It incurs import VAT at the EU border

    • What are the new reporting obligations under the European VAT directive?

  • Quarterly European sales listings, Intrasat reports, global purchase listings
  • Monthly European sales listings, Intrasat reports, European purchase listings (correct)
  • Monthly European sales listings, global purchase listings, Intrasat reports
  • Monthly global sales listings, Intrasat reports, European purchase listings

    • How is VAT handled for goods that are exported outside the EU?

    <p>VAT exempt</p> Signup and view all the answers

    What happens if an intermediate in the supply chain has not yet been established?

    <p>They could collect the VAT from the customer but don’t pay the government</p> Signup and view all the answers

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