Lenos c.s. VAT & Customs Lawyers is rated 3 out of 5 in the category law practice. Read and write reviews about Lenos c.s. VAT & Customs Lawyers. The importance of VAT, being the largest tax source for governments all over the world, but certainly in the European Union, can hardly be overestimated. VAT affects all transactions in daily life and provides governments with enormous incomes at relatively low perception costs due to its system of self assessment. The role of the governments is merely monitoring the VAT processes. Since customs frontiers between EU member states were abolished, businesses are confronted with an increasing number of VAT obligations in other member states as well as in their own. This is not only caused by the fact that businesses increasingly tend to develop activities outside their home country, but also to specific European regulations on intra community transactions. In addition to the VAT, import duties are levied upon importation of goods into the European Union. For financing its bodies, the European Union depends upon the income it derives from the import duties and a percentage of the total VAT that the various member states collect. Therefore, both national tax authorities an EU investigators are conducting more and more VAT and customs audits every year. It is in this system of checks and balances businesses should seek assistance in order to pay the amount of VAT and import duties that is just and suitable: no less, but certainly no more.
Company size
1-10 employees