Welcome to Dexxter! Are you a Belgian entrepreneur with sole proprietors? Then you have come to the right address here. In the world of import and export, the term ‘IC-listing’ can often cause confusion. In this article, we take a closer look at an intra-community listing and everything you need to know about this subject.
What is an IC-listing🔎
An IC-listing, or intra-community listing, is a summary of goods and services that a company sells to other companies subject to VAT inside the European Union (EU). This listing is essential for companies selling inside the EU and must (usually) be submitted quarterly to the VAT authorities.
Why is an IC-listing important?
An IC-listing is crucial because it gives VAT authorities more insight into which entrepreneurs are selling to other entrepreneurs within the EU. This allows closer monitoring of whether the right VAT rules are followed when supplying goods and services to other EU countries. It helps prevent tax fraud by providing more insight at European level to vAT administrations.
Did you know.
Failure to submit an IC-listing correctly can lead to fines and penalties.
When should you file an IC-listing? ⌛
Are you a Belgian entrepreneur subject to VAT or exempted from VAT (turnover less than EUR 25,000 on an annual basis)? Then you may qualify.
Then you must file an IC-listing when you sell goods or services to VAT subject entrepreneurs in other EU countries. This applies to both selling goods and providing services.
No sales made to a VAT subject entrepreneur in another EU country? Then you do not have to file an IC declaration either.
The deadline for the IC listing is the same as for the vAT declaration, namely the 20th after each quarter! At least if you file your vAT declarations quarterly. For entrepreneurs who submit their vAT declarations per month, the IC declaration must also be submitted per month.
How to make an IC-listing?
Creating an IC listing is a piece of cake if you are working with the right software. If you get started with Dexxter, the IC-listing is automatically prepared for you!
Do you still want to prepare and submit this list manually via Intervat (the online portal of vAT administration)? You can, here are some steps to get you started:
1️⃣ Identify the European sales from the previous quarter 1.
2️⃣ Aggregate everything from these European transactions: the value of sales per customer, the vAT number of the recipient …
3️⃣ Fill in the IC-listing via Intervat, providing all the necessary information.
4️⃣ Submit the IC-listing through Intervat within the specified term.
Did you know.
Filing an IC-listing can be done online via the Intervat platform from the Belgian tax authorities. For more information on IC-listing, please contact FPS Finance.
IC-listing and vAT declaration
The IC-listing is a separate declaration and should not be confused with the regular vAT declaration. Filing an IC-listing is an addition to the vAT declaration. It is important to perform both tasks correctly to comply with vAT rules and regulations.
Dexxter to the rescue! 💪
With Dexxter, the IC declaration simply rolls out of the software. You don’t have to start adding or keeping track of anything, Dexxter does the work for you.
Including handy notifications when you need to file an IC listing. We’re going to remind you, if necessary, by email but equally through the upcoming events in your profile dashboard, so you never forget a deadline!
With Dexxter, you can easily manage your IC listings and avoid mistakes.
Tip:
Try Dexxter free for 30 days via our trial period!
