- Simplified VAT Collection: The Import One-Stop Shop (IOSS) allows businesses selling goods worth up to €150 to register for VAT in just one EU country, streamlining the process and eliminating the need for multiple registrations across the EU.
- Enhanced Customer Experience: By charging VAT at checkout based on the customer’s location and ensuring that VAT is prepaid, IOSS facilitates faster customs clearance and prevents unexpected charges, leading to smoother deliveries and improved customer satisfaction.
- Monthly Reporting and Compliance: Businesses using IOSS must file monthly VAT reports and payments to their registered EU tax authority, maintain accurate records, and avoid common mistakes to ensure compliance and avoid penalties.
Source VATit
Click on the logo to visit the website
Latest Posts in "European Union"
- Comments on ECJ C-101/24 (Xyrality) – Judgment on app stores as VAT commissionaires
- ECJ Confirms Deemed Reseller Rule for App Store In-App Purchases
- VAT Challenges in Toll Manufacturing: Goods vs Services Classification Issues
- VAT and Transfer Pricing – Four recent cases @ ECJ/CJEU – 3 cases decided, 1 case pending
- Briefing document & Podcast: ECJ C-580/16 (Hans Bühler) – Late submission of recapitulative statements should not disqualify a business from exemptions
