Following the successful outcome of its Single Market Statistics project (SIMSTAT), which piloted restricting statistical data collation to export/dispatches only, the EU Commission has put forward legislative changes, aiming to harmonise and modernise the methodology of statistical data collection, throughout the EU.

The proposed regulation, called the Framework Regulation Integrating Business Statistics (FRIBS), aims to establish a common EU-wide legal framework for the development, production and circulation of European business statistics. It’s expected to facilitate greater consistency and quality of business statistics (e.g. in terms of timing of changes and harmonisation of definitions), as well as reduce regulatory costs.

The FRIBS is currently being debated by the European Parliament and is expected to come into effect in all Member States from 1st January 2019. In relation to Intrastat, the revised legislation will provide for new mandatory data fields from 1st January 2020.  The main change for declarants will be a requirement to provide the receiving parties’ “VAT number” and the goods’ “country of origin” in the flow of dispatches.

Countries such as Belgium, Germany, Ireland and Portugal, have already amended their domestic law in line with these new requirements and will begin collecting the additional Intrastat information from 1st January 2019.  Other Member States are expected to advise of these changes next year.

This development highlights the flow of intercommunity communication between statistical and tax authorities and the need to ensure data provided by declarants is valid and accurate. We have seen increased questioning and imposition of penalties from the authorities, showing the greater need to ensure compliance in all countries.

 

 

By |December 17th, 2018|