Welcome to our website dedicated to exporters to the European Union

We offer you a unique and expert one point of contact intended for the foreign company that wants to operate with or within the EU. Exporting to the EU creates many challenges that can be overcome with proper local EU representation, knowledge and support based on our expert and long experience.

KORENA SPRL exists for over 10 years and is based in the capital of Europe, Brussels (Belgium). We offer you standard and tailored made services and information. These include but are not limited to fiscal representation, VAT issues and recuperation, distribution, supply chain, marketing, quality assurances and much more.
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EUROPEAN BUSINESS NEWS

Set back to Swiss VAT simplification

The Swiss National Council has rejected plans to simplify the Swiss Value Added Tax regime, proposed by the Federal Council.

The proposals were to reduce the three Swiss VAT rates to two.  Currently, Switzerland charges three rates: 8%, 3.8% for hotels; and 2.5%.  This was to mirror the EU VAT system, which only permits two rates, the standard VAT rate plus one reduced rate for socially sensitive supplies (e.g. public transport and foodstuffs).   The plan had been to consolidate the two lower rates at about 3.5%.

The Council rejected the proposal as it considered the rise of the second reduced rate to potentially 3.5% would have an unfair balance on the poorest element of Swiss society.

The current 8% Swiss VAT rate is only a temporary measure, and will return to 7.6% in 2018.

The post Set back to Swiss VAT simplification appeared first on VAT Live.

Poland confirms VAT rate not to drop back to 22% in 2013

The Polish Minister of Finance has this week confirmed that the Polish Value Added Tax rate will not reverse back from the current 23% to 22%.

The Polish VAT rate originally rose 1% in 2011 as part of an effort to control a rising deficit following the collapse of key Euro economies.  It was intended that this was a temporary, three-year measure until the economy stabilised.

However, as the Polish trading partners’ economies continue to suffer, and EU exports are down, the VAT decrease will not go ahead until at least 2016.

The post Poland confirms VAT rate not to drop back to 22% in 2013 appeared first on VAT Live.

Joint Statement by HR/VP Catherine Ashton and EU Trade Commissioner Karel De Gucht following the recent building collapse in Bangladesh

Joint Statement by HR/VP Catherine Ashton and EU Trade Commissioner Karel De Gucht following the recent building collapse in Bangladesh

Adding the Costs of the Boston Bombings

The Boston Marathon bombings inflicted as much as $333 million in damage to the local economy. Here's the breakdown.

Vietnam issues new VAT guidance

The Vietnamese VAT office has recently published compliance guidance for a number of areas.  These include:

  • Where businesses categorised as Export Processing Enterprise use the VAT deduction method on their exports, they must ensure that the domestic supply properly the customs declaration.  This enables the application of the reduced VAT rate.
  • Transport businesses should use either VAT or export invoices with domestic customers
  • Banks may levy zero VAT on the credit and card processing services

The post Vietnam issues new VAT guidance appeared first on VAT Live.

Portugal brings in new VAT transport documentation requirements

Last week, the Portuguese tax office issued new requirements for documentary proof on the transport of goods for the purposes of applying zero Portuguese VAT.

Portuguese VAT registered businesses will be apply to allow other parties to make the declarations of shipments on their behalf.  Also, where the recipient of the goods is the final customer in the chain of supply, there will be no further requirement for them to notify the Portuguese tax office.

The new measures will come into effect from 1 July 2013.  The mirror similar VAT changes in Italy and Germany where VAT fraud is a major concern.

The post Portugal brings in new VAT transport documentation requirements appeared first on VAT Live.

Latest Trade Defence Report highlights Commission successes but shows trading partners continuing to launch new cases

Latest Trade Defence Report highlights Commission successes but shows trading partners continuing to launch new cases

EU launches anti-subsidy investigation on solar glass from China

EU launches anti-subsidy investigation on solar glass from China

Twitter Trading: 8 Tweets That Moved Markets

Social media has grown up. News that breaks on Twitter is now news that moves the markets, sometimes even when it's not news.

….The Worst Jobs in America for 2013

Think your job is the worst? Check out the 10 Worst Jobs for 2013 and see if yours made the list.

The Best Jobs in America for 2013

Think George Clooney has the best job ever? Think again! Check out the 10 Best Jobs for 2013.

8 Wacky Business Ideas

Take a look at some bizarre "Made in Asia" innovations that have caught the consumer's imagination.

EU and Morocco start negotiations for closer trade ties

EU and Morocco start negotiations for closer trade ties

Hot Cars From Shanghai Auto Show

Here are the some of the show stoppers at the Auto Shanghai Summit, as well as a peek at models that will be released this year.

Captured! Scenes From the Boston Manhunt

In a dramatic manhunt, one suspect in the Boston Marathon bombings was taken into custody.