The introduction on 1 July 2021 of the new Import One-Stop Shop IOSS is helping thousands of sellers report sales VAT on their sales of imported consignments not exceeding €150. But deemed supplier marketplaces or ‘electronic interfaces’ may also opt to use them too. Register
May 2023 update: The EC has proposed ending the €150 VAT threshold on consignment stocks from March 2028. On 1 July 2021, the EU e-commerce package introduced the obligation to charge sales VAT at the point-of-sale on sales of goods consignments with an intrinsic value
The European Union member states have adopted changes to the data sharing rules to facilitate fraud detection around the new IOSS import VAT scheme which was implemented as part of the EU e-commerce VAT package on 1 July 2021. IOSS exempts consignments not exceeding €150
OECD agreement by almost 140 countries on reforms puts EU DST on pause The EU’s European Commission has announced that it will pause its Digital Levy, a proposed Digital Services Tax, until at least October 2021. It will wait on the details of the OECD’s
The EU e-commerce VAT package introduced the requirement for non-EU sellers or marketplaces using the new import scheme – IOSS Import One-Stop Shop – to appoint an EU resident Intermediary. IOSS is the new return introduced from 1 July 2021 for reporting the import distance
VAT compliance simplifications; new tax collections role for marketplaces On 1 July 2021, the European Union introduced three key reforms to simplify their B2C e-commerce VAT regime, and help eliminate an estimated €1.5 billion in fraud affecting the EU B2C goods sector. The reforms will
The EU e-commerce VAT package has now come into force on 1 July 2021, including the introduction of the new pan-EU Import One-Stop Ship (IOSS) return. May 2023 update: The EC has proposed ending the €150 VAT threshold on consignment stocks from March 2028. These
As part of the 1 July 2021 EU e-commerce reform package, online platforms (electronic interface) now take on the VAT obligations of certain transaction of their third-party sellers. Although their remains a Special Arrangements loophole. Marketplace take on their sellers’ EU VAT obligations In an
From 1 July 2021, new VAT rules apply for sellers and marketplaces serving European Union consumers under the EU ecommerce VAT package. This will include complex invoice obligations imposed by both the EU VAT Directive and optional choices for the member states. This blog covers
The EU has now withdrawn its e-commerce distance selling thresholds from 1 July 2021. This is part of its e-commerce VAT package reforms. EU or non-EU sellers will have to charge the VAT rate of their customer when selling them across an EU internal border
