Sunnyvale, CA -- (SBWire) -- 11/22/2011 --HM Revenue & Customs (HMRC) intend to make electronic submission of Intrastat declarations mandatory. HMRC plans to amend the UK Intrastat legislation to withdraw the option to submit Intrastat declaration by paper. This measure is likely to take effect on April 1, 2012.

According to an earlier notice (Circular 25) issued by the government, VAT can be charged at the full rate of 17 percent by general taxpayers on the sale of software products developed by them. Now, immediate VAT refunds can be obtained if their VAT payable exceeds three percent of their sales amount.

Currently, many businesses that are required to submit declarations of their trade with other EU Member States are using a paper Intrastat declaration. The move to online submission is mainly to save costs and delays caused by backlogs of paper forms. Data filed electronically will be more secure with minimal human error compared to data processed on paper.

Please call or email for more details on how to submit Intrastat declarations or process

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