IOSS is a programme for e-commerce sellers who supply imported goods with a value below 150 Euros to consumers in the European Union.
Import One-Stop Shop (IOSS) came into effect on 1st July 2021. E-commerce Sellers who enrol in IOSS collect, declare and pay the VAT chargeable on imported goods to the EU-based tax authorities, instead of making customers pay VAT during the collection of the shipped product/parcel.
IOSS applies to all parcels shipped from a non-EU country to a customer based in the EU. Parcels that are valued at, below or equal to 150 Euros apply but IOSS does not apply to goods subjected to excise duties such as alcohol or tobacco.
There are four key benefits of the new IOSS VAT programme.
- You can now easily sell across all 27 EU member states with just one single VAT registration.
- IOSS gives the customer full visibility of cost at the point of sale and won’t incur hidden costs when goods are delivered after going through customs.
- IOSS-registered consignments will be subject to an expedited customs process because of the standardised IOSS system.
- IOSS means less required paperwork and overheads as your VAT returns and payments will be done by your single appointed IOSS intermediary.
If you’re still not sure if the European Union’s Import One-Stop Shop (IOSS) is right for your e-commerce business, please feel free to contact our VAT compliance team on +44 (0) 208-004-1160 in the UK, ++1 (714) 782-7000 in the USA or simply email us at query@MyVATdirect.com. We’ll be happy to answer your questions, so please get in touch today.
About My VAT Direct Ltd
My VAT Direct is a bespoke VAT registration, fiscal representation, calculation and filing service specifically designed to assist Amazon Sellers and e-commerce merchants who desire the benefits of cross-market selling without the worry of tax compliance in foreign markets.
My VAT Direct is comprised of knowledgeable and experienced tax experts, who for 10+ years have helped e-commerce sellers enjoy the selling opportunities a mass market can provide.
About SMBE Direct Ltd
My VAT Direct is a subsidiary of SMBE Direct, a world reaching B2B and B2C business services conglomerate, giving rise to exceptionally talented and well-experienced professionals organised into business units, that provide direct services to SMEs and enterprise level businesses, whereby increasing their brand awareness and sales.