Since 1 July 2021 and the introduction of the EU deemed supplier marketplace rules for electronic interfaces, certain records must be maintained by marketplaces. This covers when the marketplace is using the OSS or IOSS Special Schemes. This is part of the wider EU e-commerce VAT package reforms.
Electronic interface seller Special Scheme record keeping
When a seller transacts on a marketplace, the transaction VAT obligations may switch to the marketplace. This is known as deemed supplier transactions. To track this, the EU ecommerce VAT package requires marketplaces to maintain seller information and transactions records covering deemed and non-deemed sales on their platforms.
Record keeping requirements are detailed when a marketplace uses either the One-Stop Shop OSS or the Import One-Stop Shop IOSS VAT reporting special schemes. They must be maintained by the marketplace for at least ten years.
In the case of an audit for the Intermediary, they may use the new SAF OSS schema which standardises the XML report to be supplied.
1 OSS Deemed supplier marketplace records
- In which EU state where the goods or services are consumed
- Description and quantity of goods or services supplies
- Date of transaction
- Taxable charge for the transactions
- Any discount applied
- VAT rate used
- VAT payable
- Date and amount of payments received by the marketplace
- Any advance payments ahead of supply
- Invoice details and where issued from
- For services, evidence used to determine country of supply
- Details of return of goods, amount and VAT rate
2 IOSS Deemed supplier marketplace records
- In which EU state where the goods or services are consumed
- Description and quantity of goods imported
- Date of transaction
- Taxable charge for the transactions and any foreign currency
- Any discount applied
- VAT rate used
- VAT payable, including foreign currency
- Date and amount of payments received by the marketplace
- Evidence used to determine the country of dispatch of the goods
- Invoice details and where issued from
- Unique order number
- Details of return of goods, amount and VAT rate
