Deferred VAT

Deferred VAT is a fiscal mechanism that allows companies to postpone the moment in which they must accrue Value Added Tax (VAT) on their import operations. Instead of paying VAT at the time of customs, it is postponed until the time of self-assessment of the tax.

When can you request deferred VAT?
From November 1, 2023, and throughout the month, you can request the application of deferred VAT to imports made after January 1, 2024 by submitting the Census Declaration through form 036.

How do I know if I am in deferred VAT?
Find the "Inquiries" block and click on "Import VAT inquiry with payment deferral". Once you access with the operator's electronic certificate, the criteria based on which you want to perform the search will be indicated: type of document, date range, fiscal year or period.

How does deferred VAT work?
To avoid liquidity problems, some finance providers offer a VAT deferral option. This option allows you to defer payment of VAT on your asset for three months. You file your usual VAT return and recover VAT from the asset. But you do not have to pay the full amount of VAT to the financial company until the third monthly payment.

What is the difference between deferred VAT and postponed VAT?
Deferred VAT is simple and practical for even the smallest e-commerce businesses. On the other hand, deferred import VAT is a longer and more expensive process to manage. 

For more information you can check this link from the headquarters of the Spanish tax agency that talks about 
Import VAT, how to defer your payment. Requirements, exercise of the option, waiver and other information https://sede.agenciatributaria.gob.es/Sede/en_gb/iva/iva-operaciones-comercio-exterior/iva-importacion-diferir-pago.html 

Additionally, you can see how to consult the import VAT with payment deferral at this link: https://sede.agenciatributaria.gob.es/Sede/en_gb/iva/iva-operaciones-comercio-exterior/iva-importacion-diferir-pago.html?faqId=22f07a539da24710VgnVCM100000dc381e0aRCRD 

For any questions you can contact our import department who will advise you on REDEME.

Cordially,

World Ocean Cargo Ibérica, S.L.