Hikes in intra-community goods arrivals reporting 1 January 2023
Cyprus has increased the annual thresholds for Intrastat arrivals reporting. This is the monthly declarations of goods’ movements across EU member state internal borders. This is only required of businesses that exceed the ‘dispatches’ (‘exports’ to another EU state) and / or arrivals (‘imports’ of goods from other EU states).
Get our free VAT newsletter for international VAT updates.
The new thresholds are as follows:
- Arrivals: will increase from €230,000 to €270,000
- Detailed reporting for arrivals: €2.7 million unchanged
- Dispatches: will increase from €75,000 unchanged
- Detailed reporting for dispatches: €5.8 million unchanged
Intrastat basic information includes:
- the identification number allocated to the party responsible for providing information;
- the reference period;
- the flow (arrival, dispatch);
- the commodity;
- the value of the goods;
- the quantity of the goods;
- the partner Member State;
- the nature of the transaction.