The new EU VAT rules for e-commerce that take effect on 1 July 2021 reference the phrase “consignments of an intrinsic value” a few times. The primary references regard:
Marketplaces: Under the new rules, marketplaces are deemed as the supplier for VAT for distance sales of goods from non-EU countries (third country) in consignments of an intrinsic value not exceeding EUR 150;
Import Scheme: The import scheme applies only for goods dispatched from a third country in a consignment of an intrinsic value not exceeding EUR 150; and
Postal Operators and Express Carriers: The special arrangement for postal operators and express carriers also refers to these consignments. All of these follow the threshold for the EU customs duty exemption.
But what is actually meant with the terms “consignment” and “intrinsic value?”
Source: Vertex
