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22 November 2011
A Dutch business imported goods from China, but is unable to sell these in the Netherlands. The goods are to be shipped to the UK and sold to a UK company
I have been asked to advise a client on a tricky deal involving three companies. Needless to say VAT is the liability that is giving me the most cause for concern.
The actual situation on which I need assistance is as follows.
- A business based in Holland imported goods into that country from a business in China.
- The goods cannot be sold in Holland for legal reasons so the Chinese business has given a credit note for the goods. However rather than the goods being returned to China it has asked the Dutch business to forward them from Holland to C Ltd (my client) in the UK.
- My client will take ownership of the goods and sell them over a period of six months – and although the Chinese business will...
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