The EU introduced the E-Commerce VAT package on July 1, 2021, to digitalize administrative processes and simplify tax reporting. The package includes the Import One-Stop Shop (IOSS) and expands the scope of transactions that can be reported. Two and a half years later, the package has been successful, evidenced by increased OSS scheme registrations, reduced non-compliance cases, less bureaucracy, and improved administrative cooperation. Special schemes like One Stop Shop, EU VAT E-Commerce Package, OSS Non-Union Scheme, OSS Union Scheme, and Import One Stop Shop (IOSS) have benefited taxable persons in the EU and non-EU countries. These schemes have simplified reporting and payment of EU-wide VAT for various types of supplies, reducing bureaucracy and challenges for both businesses and customers.
Source 1stopvat
- Join the Linkedin Group on VAT/GST and E-Commerce HERE
