The ET 14000 license is a special system of deferment of VAT due on imports in Belgium. This authorization enables its holders to pay no VAT during the customs clearance procedure, but rather to report the amount of import VAT on the periodic VAT returns submitted to the Tax Authorities on a monthly or quarterly basis.
Since the amount of import VAT is simultaneously deductible on the same VAT return, no cash payment is required.
For example, if you import goods worth €1000, you would normally have to pay €210 in VAT at the time of import. However, if you have an ET 14000 license, you would not have to pay the VAT at the time of import. Instead, you would report the €210 in VAT on your next VAT return. You would then be able to deduct the €210 in VAT from the VAT that you owe on your sales.
The ET 14000 license is a valuable tool for businesses that import goods into Belgium. It can help to improve cash flow and reduce the administrative burden of VAT compliance.
Here are some of the benefits of obtaining an ET 14000 license:
- No need to pre-finance VAT at customs
- Faster and easier customs clearance procedures
- No need to deposit a bank guarantee
- Reduced administrative burden
If you are a business that imports goods into Belgium, you should consider applying for an ET 14000 license.
To be eligible for an ET 14000 license, you must:
- Be a registered VAT taxpayer in Belgium.
- Have a good track record of compliance with VAT laws and regulations.
- Be able to provide a bank guarantee or other security to cover any potential VAT liabilities.
The application for an ET 14000 license can be made by mail or by post to the following address:
Service Public Fédéral Finances Administration Générale de la Fiscalité 33 Boulevard du Roi Albert II Boîte 281 1030 Bruxelles BELGIQUE
The application must include the following information:
- The applicant’s company name and address.
- The applicant’s VAT registration number.
- A description of the applicant’s import activities.
- The applicant’s financial statements for the past two years.
- A bank guarantee or other security in the amount of €10,000.
The processing time for an ET 14000 license application is approximately two months.
If you are eligible for an ET 14000 license, I encourage you to apply. It can be a valuable tool for improving your cash flow and reducing the administrative burden of VAT compliance.
The ET 14000 license is a special system of deferment of VAT due on imports in Belgium