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’s e-commerce VAT package launched on 1 July 2021. What changed 1 July 2021 with EU e-commerce VAT package Update: 2022 OSS amendments to be considered. EU and non-EU sellers only need 1 VAT return, ‘One-Stop Shop’ (OSS) for B2C distance selling of goods, traditional
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The EU has now withdrawn its e-commerce distance selling thresholds from 1 July 2021.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
Amazon is notifying its sellers on preparations for the launch of the 1 July 2021 EU VAT ecommerce package. This withdraws distance selling thresholds, the €22 import VAT exemption and makes marketplaces like Amazon liable for their sellers’ transactions in certain cases. From 1 July
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
Cyprus has issued guidance to EU and non-EU sellers and marketplace affected by the 1 July 2021 e-commerce package reforms. These seek to withdraw distance selling threshold, the €22 import VAT exemption and impose new VAT liabilities on certain marketplace transactions. To support this, and
From 1 July 2021, the new 2021 EU VAT e-commerce package will come into effect. This simplifies distance selling VAT compliance, imposes sales VAT on imports not exceeding €150 and imposes VAT collections obligations on marketplaces for some of their sellers’ transactions. E-commerce package obstacles
The European Union is to introduce a €10,000 pan-EU e-services registration threshold. This means that initially small EU businesses will be able to use the VAT return and rate of their country of registration rather than that of their customers. The new threshold will apply
