EORI NUMBER FOR VAT AND CUSTOMS CHARGES

If you are in e-commerce with import or drop shipping, getting an EORI (Economic Operator Registration and Identification) number should be one of your priorities. It is a number obtained with your sired number which represents your company and which allows to pay VAT and customs fees. WHAT IS THE EORI NUMBER AND WHY HAVE IT? All serious drop shippers and contractors know it: it's better not to play with fire when importing products in Europe. Sooner or later, you will get caught up in your business by customs to pay VAT and late customs fees. When you create a company or a self-organization, you get a 14-digit Siret number. This number identifies your company, similar to the social security number that identifies you. Just download the EORI application form , fill it out and send it to the business formalities center in your area. You will get an answer and a very fast activation, 24 hours after the reception of the document. You will obtain an EORI number that you can indicate to the customs during your orders. You will receive monthly or quarterly an amount to settle at the customs to pay you VAT and customs fees. Thus, you will be perfectly in order to import outside the European Union. WHAT RISKS WITHOUT AN EORI NUMBER ? The risks related in particular to dropshipping of not having an EORI number are multiple, for you as well as for your customers: •Sooner or later, you will be asked for invoices and explanations about your business and you will realize that you are importing. You will then be asked to pay 20% VAT and customs fees . •Your packages can be blocked indefinitely or destroyed at customs without this number and your customer will never receive his product. So you lose a customer and a lot of money if you combine the advertising effort to have an order and the product you ordered. •You may have legal problems if you realize that you have imported for several thousand euros. This is specifically fraud. We spend our time accusing our politicians of tax evasion and fraud, so why play that? •It can totally destroy your business. Imagine that you currently have 20% margin on the products you sell. It rings at your door two years later and you are asked to pay your 20% VAT and a few percentages more in connection with customs fees. Your margins are destroyed and you can go out of business or worse, be bankrupt if you are an individual entrepreneur. Of course, if you are testing your first products and you make a little figure like 200 euros, the customs will not bother you at first and you will have a nice call to order. On the other hand, if you do much more than that, it is your entrepreneur's duty to obtain this EORI number and to declare your income to customs. If you meet formations that do not talk about this legal part, run away. There is no point in building a business if you are wrong from the beginning. WHAT IS THE PROCEDURE FOR OBTAINING THE EORI NUMBER AND DECLARING THE VAT AND THE CUSTOMS CHARGES? •Create a business or self-business. •Go to the customs website . •Fill out the EORI form . •Return the form to obtain your EORI number from the competent entity, an economic action center . •The wait is not long, you will receive soon a return on this subject. Once your EORI number is obtained, you will obtain a document indicating the steps to take for the VAT and customs fees that you are liable. You will need to complete a form stating the nature of the products you have imported and for what amount. You can then send these documents to the customs which will return an invoice to pay him corresponding to the VAT and your customs fees . Nothing simpler, is it? You will also be able to order parcels while requesting that your EORI numberbe marked on the package. You will not be afraid anymore that your package is blocked and destroyed. Convenient! For the rest of the details, we offer crazy formations that combine both the legal and legal issues that how to explode your profits while respecting your client.