Hi there, what if your EU supplier is supplying you under Incoterms of DDP (delivered duty paid)?
They are responsible for the import vat and duties aren’t they?
Do we just enter the converted invoice value in box 7 then and that’s it?
We have 2 specific suppliers
1 in NL who has a GB EORI and invoices us zero rated in € and uses DDP Incoterms
1 in France who doesn’t have a GB EORI and invoices us zero rated in € but uses UPS courier for deliveries and supplies DDP Incoterms.
Do I just process their invoices as purchases as the VAT etc has already been paid by the supplier?
Or, are we likely to get landed with a bill down the line? We haven’t received any charges so far and the goods have cleared customs and been delivered to our customers.
My answers
Hi there, what if your EU supplier is supplying you under Incoterms of DDP (delivered duty paid)?
They are responsible for the import vat and duties aren’t they?
Do we just enter the converted invoice value in box 7 then and that’s it?
We have 2 specific suppliers
1 in NL who has a GB EORI and invoices us zero rated in € and uses DDP Incoterms
1 in France who doesn’t have a GB EORI and invoices us zero rated in € but uses UPS courier for deliveries and supplies DDP Incoterms.
Do I just process their invoices as purchases as the VAT etc has already been paid by the supplier?
Or, are we likely to get landed with a bill down the line? We haven’t received any charges so far and the goods have cleared customs and been delivered to our customers.