Each Member State has its own means and requirements for VAT payments. Depending on the case, VAT will be withdrawn from a bank account, will be subject to an electronic payment order, or will need to be paid by bank transfer. For mandatory withdrawals and electronic payments, it is often necessary to open a local bank account. However, it is becoming increasingly difficult to open a bank account abroad these days if you are not a resident of that country. To overcome this problem, ASD Group offers its customers tailored solutions. Transfers must be made in the local currency. What’s more, you need to allow sufficient time for the transfer and cover any bank fees. Most countries take account of the date that the funds are received, not sent. Any delays in receiving funds and any transfer amounts lower than the declared VAT amount will result in penalties. Please keep in mind that, while some Member States recognise the right to error and tolerate, as a matter of exception, delays and reduced payment amounts due to bank fees, other Member States impose sanctions for any discrepancies, with penalties that may seem disproportionate to the offence. ASD Group will be happy to manage all your obligations using a banking system appropriate for your business. We can also manage all you payments so that you don’t have to. Discover our VAT-related services