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The recent global financial crisis has prompted companies to research new and better solutions for win the competition. The export is definitely the driving force of an economy both at micro (enterprise) and macro (national economic growth). Consignment Stock The tax is a tool that enables companies to create a repository of foreign goods can offer goods for prompt delivery service which is a remarkable than many competitors.
1 - Initial Compliance:
The formation of a Consignment Stock in Portugal begins with a request that a tax position in Portugal, by registering with the Inland Revenue as intra-Community operator Portuguese without a permanent establishment, ie without tax representative in accordance with Directive 2000/65/EC of 17 Ottobre.Come result of the tax record and made the lack of a tax representative, the company is domiciled for tax effect automatically at the 3rd Internal Revenue Lisbon .
2 - The import operation:
register with the tax office of the Portuguese tax code as a "foreign company does not operate directly in Portugal," the company Italian is able to make the invoicing of the products itself.
Being treated as an import intra-Community acquisitions, it automatically generates the requirement for the respective term (monthly or quarterly a seconda del volume d’affari) una dichiarazione IVA presso l’Agenzia delle Entrate Portoghesi, nella quale vi é automatica deduzione.
3 – La gestione dello stock:
Dpo tali adempimenti, la società Italiana può procedere con l’esportazione fisica della merce, tuttavia, in Portogallo, il Consignment Stock non può durare più di un anno. Dopo tale data il Consignment Stock é considerato una messa a ultimate disposal of the goods to which automatically generates the obligation to liquidate and pay VAT on the goods deposited.
Prior to physically deposit is prudent to adjust the relationship with the agent through an escrow agreement, in addition to what is recommended to take out or to enter into the depository, a insurance on goods, especially in the case of goods of some value and perishable.
After delivering the goods and regulated the relationship deposit with the distributor, the same can proceed with the promotion of the sale of the stock. The sale will be through billing in the Portuguese legal terms, issued by the Italian company with headquarters in Italy, the bill will provide for the Portuguese VAT.
Once the sale, either monthly or quarterly, depending on the regime, the Italian company will submit the declaration on VAT collected and proceed with their liquidation and payment.
The Italian company, in principle, be able to deduct expenses incurred in Portugal they do not comprise evidence of establishment.
4 - Risks / Behaviors to avoid:
Risks associated with managing Stock Agent / Distributor :
The risk of "disappearance" of the goods is a major risks, as a Distributor with financial difficulties will be tempted to sell the goods without the knowledge of the owner in order to generate cash cash. Hence the importance and need for an escrow agreement, in which it stipulates, in addition to guarantees and penalties, a test plan (inventory) periodic (monthly) of the stock in storage, in order to identify early any misleading conduct of the Distributor.
always connected to the distributor there is a risk of payment of VAT on the stock in terms of Portuguese law, if the stock is not removed / renewed within 12 months. Hence the need for a regeneration of the stock and made a passing reference to stocks, preferentially regenerated (with new or more products) so that it passes to be a new Consignment Stock.
Risks associated with the establishment:
be considered stable organization creates an obligation to appoint a representative with the Portuguese tax liability (which is not so easy to meet, at least among professionals) and an obligation for the payment of income taxes on corporate income tax Portuguese (subject to double taxation convention between Italy and Portugal). It is therefore important to avoid risky behavior such as the creation of offices, business centers, or provide employees with real decision making powers. The latter being the hallmark of the establishment.
problem of recovering the goods sold illicitly :
The distribution agreement seeks to prevent the illegal sale of goods in storage, however, and regardless of contractual deterrents, the illicit vendita può avvenire.
Oltre alla soluzione ovvia di richiedere responsabilità contrattuale al Distributore, può sorgere la necessità (per il fatto, ad esempio, del Distributore non essere solvibile) di recuperare il bene presso terzi.
La legge civile portoghese salvaguardia il diritto di proprietà per cui é considerata nulla e come tale inesistente, la vendita di un bene di cui non si ha la proprietà, anche se effettuata ad un terzo in buona fede. La posizione della dottrina e giurisprudenza portoghese si basa sul fatto che la proprietà é un bene assoluto, e chi non ha la proprietà del bene non la può transmit, transmitting only a precarious possession of the property, so that the true owner can always claim the restitution of the property even if the final buyer, as mentioned above, in good faith. This action may be preceded by a possible seizure if the conditions exist (eg good for processing, with consequent risk of loss or damage).
In case of failure of the third buyers can request the the return of a trustee, which, if accepted voluntarily, should be imposed through an independent judicial action.
Nel caso di fallimento del Distributore, il credito insinuato nel passivo del distributore, per l’inadempimento contrattuale sarà graduato come mero credito chirografario.
Rischio notifiche fiscali 3ª Agenzia Entrate Lisbona
Un altro rischio da valutare é la domiciliazione automatica presso la 3ª agenzia entrate Lisbona, nella misura in cui le notifiche non sono fatte presso la sede italiana ma presso l’agenzia delle entrate. Un primo aiuto può avvenire dall’adesione ai mezzi elettronici, ma non tutte le notificazione sono effettuate via e-mail, una soluzione radicale Safe and resides in the periodic review of any mail deposited.
