- The UK’s European Scrutiny Committee (ESC) has expressed concerns about the European Union’s proposed expansion of the import One Stop Shop (iOSS), which could affect UK businesses selling in the EU.
- The iOSS is a mechanism introduced by the EU in 2021 to simplify e-commerce sales of goods to consumers within the EU’s Single VAT Area. It allows e-commerce providers to account for import VAT across all EU nations through a single platform.
- However, there are restrictions on its use, and businesses outside the EU must pay for a fiscal representative.
- The EU is now proposing to abolish the €150 threshold and extend the deemed supplier rule, making all e-commerce sales eligible for the iOSS scheme.
- The ESC is concerned about the impact on UK businesses, particularly in Northern Ireland, and the cost of fiscal representation.
- It has requested an update from the government on efforts to secure an exemption for GB businesses from this requirement.
Source Innovate Tax
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