“From VAT clearance per shipment to VAT clearance on sales”
The new VAT collection scheme for parcel imports into the EU, which will be effective as of January 1, 2021, may simplify the customs clearance process for parcel imports but may also create new filing obligations and tax collection complexities for the service providers handling these imports such as the postal operators, express couriers and customs agents. The European Commission did perform an extensive impact assessment (December 1st, 2016, European Commission, Impact assessment, ‘Modernising VAT for cross-border B2C e-Commerce’) on the current and new VAT regulations for cross-border e-commerce. However, this assessment was mainly focused on the compliance costs and challenges for SME’s (the suppliers). Nothing was said about the possible impact of the new import scheme on the postal & express sector. This article will address this impact and will analyze the possible outcome fort his sector.
Source: tradetaxport.com
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