Removal of the exemption from VAT for “low-value” goods
The European Union (EU) has introduced reforms to the value added tax (VAT) rules that will affect business-to-consumer (B2C) e-commerce sellers and marketplaces as of 1 July 2021. With removal of the exemption from VAT for “low-value” goods, all commercial goods imported into the EU will be subject to VAT (to be imposed at the applicable VAT rates in the country where the goods arrive).
Source KPMG
