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Collaboration between Advent and Data Agent to provide solutions for hedge funds to meet Form PF compliance requirements.

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What is advent and data agent?

Advent refers to the Automated Data Exchange for VAT and Excise Declarations system, which is used for exchanging VAT and excise data between EU Member States. Data Agent, on the other hand, is an appointed representative or entity responsible for submitting VAT and excise data through the Advent system.

Who is required to file advent and data agent?

Business entities engaged in the import and export of goods within the EU are required to file advent and appoint a data agent. This includes both taxable persons and non-taxable legal persons.

How to fill out advent and data agent?

To fill out advent and appoint a data agent, you need to register with the relevant tax authorities in your Member State. Once registered, you can access the Advent system and provide the required VAT and excise data. Additionally, you need to submit the necessary documents to appoint a data agent.

What is the purpose of advent and data agent?

The purpose of advent and appointing a data agent is to ensure the accurate and timely exchange of VAT and excise data between EU Member States. It helps in improving tax compliance, combating fraud, and enhancing administrative cooperation.

What information must be reported on advent and data agent?

On advent, you must report detailed information regarding the VAT and excise transactions, including the goods imported or exported, their value, tax amount, and any applicable exemptions or reliefs. The data agent must ensure the accuracy and completeness of the information provided.

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