What is Intrastat?
Intrastat is a system that collects statistical data on trade in goods between countries within the European Union (EU). The purpose of Intrastat is to provide detailed information on the import and export goods within EU member states. This enables policymakers, entrepreneurs and other stakeholders to make more informed trade and economic decisions.
How does Intrastat work?
Intrastat requires companies trading goods between EU member states to submit monthly statistical reports to national authorities. These reports contain detailed data on trade, such as the value of goods, quantity, weight and origin of goods. By collecting this information, Intrastat can provide an accurate picture of intra-EU trade flows.
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Why is Intrastat important?
Intrastat is important because it provides an accurate picture of intra-EU trade in goods. By collecting detailed information on the value, quantity, weight and origin of goods, policymakers can better understand the economy, identify trade barriers and evaluate the competitive position of different member states. In addition, compliance with Intrastat rules is essential for companies to avoid fines and other legal consequences.
Frequently asked questions about Intrastat:
What happens if a company fails to meet Intrastat obligations?
Failure to comply with Intrastat obligations can result in fines and other legal consequences. It is important for companies to be aware of reporting requirements and ensure that they comply with Intrastat regulations in a timely and accurate manner.
Will the Intrastat data be made public?
Intrastat data are used for statistical purposes and are not publicly available. However, the data are used by policy makers, researchers and other stakeholders to understand intra-EU trade.
