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EU_VAT_Reform_Business.pdf
Preview of https://www.ups.com/ assets/resources/med ia/en_CA/EU_VAT_Refo rm_Business.pdf
🔗 Source: ups.com
📊 Size: 588 KB
👤 Author: Kengen Jonas (DDK0MLY)
⬇️ Downloads: 41

Summary

The EU's Value Added Tax (VAT) rules are changing, effective July 1, 2021, impacting imports into the EU valued up to €150. The changes include:
1. Removing the €22 VAT exemption for imports, requiring VAT payment for all goods.
2. Introducing an Import One Stop Shop (IOSS) platform for businesses to settle VAT for goods valued up to €150.
3. Making online marketplaces responsible for EU VAT compliance for goods valued up to €150 sold on their platforms.
These changes aim to level the playing field for EU businesses, facilitate cross-border e-commerce, and tackle VAT fraud. Businesses selling goods to EU consumers must prepare for these changes, which may require registering for the IOSS platform, charging consumers VAT at the point of sale, or using an intermediary to settle VAT. Online marketplaces will be responsible for determining the intrinsic value of goods sold on their platforms and charging VAT accordingly.

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Description

The EU's Value Added Tax (VAT) rules are changing, effective July 1, 2021, impacting imports into the EU valued up to €150. The changes include:
1.

Technical Information

  • File Format: PDF
  • File Size: 588 KB
  • Pages: 6
  • Language: EN
  • Author: Kengen Jonas (DDK0MLY)
  • Total Downloads: 41
  • Last Updated: 4 weeks ago

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