Fiscal representation Fiscal Rep B.V. specializes in developing VAT, customs and administrative solutions for companies who trade or want to trade in the EU and require a proper and compliant setup of their logistical processes relating to EU customs and VAT. Fiscal Rep BV was founded in June The founders have a combined experience of more than 30 years in handling logistics, customs and VAT matters in the EU. Fiscal Rep B.V. therefore has a strong background in customs and VAT Compliance. Fiscal Rep BV and TLogistics have formed a strategic partnership in June 2011 and have been successfully working together serving predominantly US based customers.

Fiscal representation Each foreign company that wants to setup a European Distribution Centre in the Netherlands and /or imports their goods into The Netherlands has to pay Dutch VAT on importation. This leads to registration obligations for VAT purposes and cash flow disadvantages. If the foreign company doesn’t have a permanent establishment in the Netherlands, the company has the possibility to appoint a fiscal representative. The benefit of appointing a fiscal representative is that the foreign company can make use of the import deferment rule of article 23 of the Dutch VAT act. Applying the deferment rule means that actually no Import VAT has to be paid and reclaimed at a later moment.

1 st stage is the Application process (estimated timeline 1 week): Power of attorney (POA) to authorize Fiscal Rep BV to act as the general fiscal representative of the foreign company. Application form: “vat identification number for foreign enterprise”. The foreign company has to answer all the applicable questions. An extract of the registration of the foreign company in the chamber of commerce in the registered country if applicable. A copy of the ‘deed of incorporation’. A statement showing that the foreign company as an entrepreneur is liable to pay tax in their own country. (IRS statement, form 6166, for US based customers) The import value per year which the foreign company expects to have in de EU for the current and next year. This is needed to calculate the bank guarantee amount to be set. After completion of all documentation and information this can be sent to us by so we can start the application process as soon as possible. Fiscal representation

2 nd stage is sending the application form to the Tax office in Heerlen, The Netherlands. If the requirements are met, the Tax authorities will grant a VAT identification number within a week. 3 rd stage is to apply for the general fiscal representation (GFR) and art. 23 deferment license at the Tax Office in Hoofddorp. The Tax authorities will determine the bank guarantee amount which needs to be set and after this bank guarantee has been deposited to the tax office, the GFR and art 23 deferment license will be granted. Estimated timeline is three weeks. Fiscal representation

Operational Process To setup the operational procedure for the monthly VAT returns we need the following information submitted to us before the 9 th of the month following the reporting month. The import declarations and inbound invoices declared in the reporting month (we normally receive this from the clearing agent) The original sales invoices. (outbound invoices, sales to EU customers, sales to non EU customers and sales to NL customers) The shipped orders information per reporting month from the logistics provider. The original invoices for purchases in other EU member states and the goods are sent to the Netherlands. (Intra community acquisitions per reporting month) VAT invoices ( invoices on which Dutch VAT has been paid ) There are specific invoicing requirements to comply with. During the operational setup stage we will guide you step by step through this process. Fiscal representation