INTRASTAT information and guide for 2021

INTRASTAT information and guide for 2021

By: P.Constantinou & Co

INTRASTAT is the system for collecting information and producing statistics on the trade in goods between all the countries of the European Union.

It began operating on January 1st, 1993 when it replaced customs declarations as the source of trade statistics within the EU. The requirements of Intrastat are similar in all member states of the EU, although there are important exceptions.

Trade statistics are an essential indicator of a country’s balance of payments account and are considered an important economic indicator of the performance of any country. Export data in particular can be used as an indicator of the state of a country’s manufacturing industries as a whole. The statistics are used by government departments in order to help set the overall trade policies and generate initiatives on new trade areas.

The Tax Department of Cyprus is the responsible agency to collect and analyze all the INTRASTAT data and exchange this information with the EU.

Below you can read the latest announcement from the Cyprus Tax Department regarding INTRASTAT with useful guidelines and instructions (in Greek text only).

For additional information or assistance please don’t hesitate to contact our Firm directly and our expert team of advisors can assist you in any matter regarding INTRASTAT.

For more information click here.

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