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Commentary

Margin schemes: second-hand goods, and global accounting

11 Denmark
11 Denmark | Commentary

Margin schemes: second-hand goods, and global accounting

11 Denmark | Commentary

Margin schemes: second-hand goods, and global accounting

Denmark operates a special margin scheme for dealers in second-hand goods, as required by the Principal VAT Directive. The margin scheme enables the dealer to account for VAT on the margin between the buying and selling prices rather than on the full selling price of the goods. Use of the scheme is optional.

The eligibility criteria for use of the scheme are as follows:

  1.  

    •     the goods must be eligible;

  2.  

    •     the goods must have been acquired in eligible circumstances;

  3.  

    •     the margin must be calculated in accordance with the rules of the scheme;

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