VAT
Value Added Tax (VAT) is due on imports of goods and services into any of the 27 EU Member States. Basically, all VAT paid by companies can be refunded by the tax authorities in the various EU countries. If no specific arrangements are made the applicable VAT rate has to be paid over the customs value of the goods (invoice value, freight & handling cost, import duties and local transport). The EU VAT rate varies per country but is approximately 20%. 

If no specific arrangements are made, the importer has to pay the VAT which will be paid back by the Tax authorities between 3 to 9 months later. This refund period varies per EU country. Some EU countries provide customers with a system called VAT deferment; this means that at the time of import no VAT has to be paid.  For more information see the chapter on VAT deferment & fiscal representation

Import duties
If goods are imported into one of the 27 EU members, VAT and import duties have to be paid. This can be paid when the goods are imported or at a later stage.  If the goods are stored in a bonded warehouse the payments of import duties and VAT can be postponed until the goods have been sold to a EU customer.

Transit
If the goods are sold to a non EU customer (e.g. Russia, Norway, Switzerland).  The goods can be kept “in transit” this means no duties and VAT have to be paid in the EU.