Intrastat is the system for collecting statistics on the movement of goods between EU member states. This information is used by government departments, economists and financial institutions.
If you are a VAT-registered trader whose total goods to other EU countries states exceeds €635,000 pa or whose total goods from other EU countries exceeds €500,000 pa, you must complete a monthly Intrastat return.
The information required can be very detailed, so it is important that systems are in place to capture the relevant Intrastat data in accounting or stock control software. Fines for non-compliance can be imposed (€1,265 on summary conviction and an additional fine of €60 per day). There is also provision for the prosecution of the directors, managers, secretary, or similar officer of a body corporate in certain circumstances.
If you are a small company and need advice or assistance on completing Intrastat returns, please call us today on 021 240 9120 or email us at email@example.com.