We understand that, although trade is the core business of companies, administration is their black spot, and ASD Group always seeks to simplify its management. We also know just how difficult it is to manage such a great number of documents. This is why we have created the ideal administrative tool to manage you proofs of transport: ASD Kyanite. The latest VAT reform concerning the Quick Fixes will lead to the management a huge amount of documents of essential financial importance and ASD Kyanite will simplify this process. The main advantages are as follow:
Save up to 20% of your turnover and protect yourself in the event of an inspection.
Simplify your procedures by digitalising the proof of transport’s process.
Track your documents in real time and find them easily.
Proofs of transport are compulsory documents meant to bring evidence that goods have properly been transported from one EU member State to another. Article 45a of the Implementing Regulation (EU) 2018/1912 quotes in an exhaustive list the documents that may be accepted as proofs of transport. The evidence of intra-community transport of goods is one of the requirements to obtain exemption for VAT applicable to intra-community supplies of goods, as provided for in Directive 2006/112/CE article 138.
In the event of a random tax inspection or following a VAT refund application, the sellers may end up having to pay for the VAT applicable to every intra-community supplies of goods for which they cannot produce proofs of transport, as per article 45a of the Implementing Regulation (EU) 2018/1912. The taxation risk caused by the absence or non-compliance with proofs of transport may well amount to up to 20% of a company’s turnover (before the application of penalties or default interest). For such reasons, proofs of transport should be managed with great care in order to secure your activities.
You will be able to upload and download the documents concerning your various intra-community supplies of goods at any moment: a tremendous timesaver in the event of an inspection.
Everything was done so that our tool, ASD Kyanite, would be as complete and user-friendly possible for our clients. With all the involved parties (logistics, accounting, transports and clients) able to access our platform, collecting and ensuring the compulsory documents’ compliance becomes a lot simpler. The stakes are high, as we are talking about VAT, which represents a European average of 20% of the turnover. Your security is also on the line, as among all the involved parties, the seller is the only one risking VAT reassessment.
ASD Kyanite is also a tool that centralizes your proofs of transport, of transport tracking and your intra-community operations. It is there to help you save time and send automatic or manual reminders at your convenience. All of this serves to give you a global visibility that will help you focus on the essential. Moreover, a notification system, customised to adjust to the profile you have chosen, has been set up.
Your accounting services will be able to assess the taxation risk at any moment; thus, reducing the chances to face the cancellation of VAT exemption due to missing or incomplete proofs. They will then be able to check:
Do not underestimate the value of your documents! Don’t take the risk to lose 20% of your turnover. ASD Kyanite is the most optimised solution to prevent the loss of VAT exemption.
Since 1st January 2020, the “Quick Fixes” have entered into force in every member State of the European Union. They are a series of measures that aim to improve the current VAT system in preparation of a major overhaul planned for 1st July 2022. This reform includes, among other things, harmonised but more constraining rules regarding how evidence intra-community transport of goods. In consequence, depending on the situation, the seller must now produce 2 to 3 pieces of evidence that prove intra-community transport of goods for each intra-community supply performed. Please do note that only certain types of documents will be accepted, in compliance with the list provided in the European regulation. Let us see an example backed by figures to demonstrate the additional workload created by this newly implemented VAT rule. Imagine you perform 50 supplies per month, which means 600 operation per year, with a tax prescription period of 3 years, which means 1,800 operations. Depending on who arranges the transport of the goods (you or your buyer), you will need to present 2 or 3 proofs of transport per intra-community operation supply of goods. We then reach a total of 3,600 documents to provide and organise. Each one of these documents will need to be brought for each operation, each client and each transporter. You will need to present all these at every inspection in order to confirm your VAT exemption. If one of these elements is missing or incomplete, the exemption may be called into question. With our platform “ASD Kyanite”, organising your documents becomes clear and simple when you are creating a new transaction.
Subscribe now to our platform, ASD Kyanite. From only €8.25 per month (before tax). It is a non-binding subscription. (An additional fee of €0.10 per operation will be charged beyond the threshold of 20 operations in a month.)