13. July 2018

Neither a non-EU nor an EU company that have a VAT registration can easily use the VAT transit rule when importing drug products. This means that VAT has to be paid on imports of goods from outside the EU. Of course, this VAT can be reclaimed via the next monthly or quarterly VAT declaration. However, this means a cash flow disadvantage because import VAT needs to be pre-financed. Thus companies located in non-EU countries (e.g. Switzerland, USA, South America, Russia, etc.) planning to import...