Test yourself Question 1 of 6 Question 1 of 6
Why does the law let a regular exporter buy without VAT?
To reward the largest businesses To stop it building up a permanent VAT credit, since it charges no tax on foreign sales Because exports are exempt from income tax To simplify the annual return
Question 2 of 6 Question 2 of 6
A business sells only to other EU Member States, with no exports outside the EU. Do its intra-community supplies count towards regular exporter status?
No, only exports outside the EU count Yes, article 41 makes them count for the percentage and the limits Only for half their value Only if they exceed 10,000 €
Question 3 of 6 Question 3 of 6
Which transactions are removed from turnover for the ten per cent test?
All exempt supplies Goods in transit or under customs supervision, and transactions under article 21, paragraph 6-bis Exports None
Question 4 of 6 Question 4 of 6
Who cannot use the rolling ceiling?
Limited companies Businesses that started trading less than twelve months ago Businesses exporting outside the EU Businesses with turnover above 1,000,000 €
Question 5 of 6 Question 5 of 6
A regular exporter wants to buy building land without VAT using its ceiling. Can it?
Yes, if it has enough ceiling No, buildings and building land are excluded from the option Yes, but only for half the price Only with the rolling ceiling
Question 6 of 6 Question 6 of 6
What does the tenant of a leased business need in order to use the ceiling the business built up?
Nothing, the ceiling always follows the business An express clause in the lease and a registered letter to the VAT office within thirty days A new business start-up declaration The suppliers' consent
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