- EU finance ministers agreed on a new approach to VAT for e-commerce imports
- Focus on simplifying VAT declaration and payment for imported goods
- Agreement aims to reduce administrative burden and combat VAT fraud
- Encourages wider adoption of the Import One-Stop Shop (IOSS)
- New rules target suppliers selling goods up to 150 euros
- Suppliers not using IOSS face complex VAT registrations in EU states
- Backup process allows customers to pay VAT directly if suppliers do not comply
- New directive streamlines VAT process and supports broader customs reforms
- Estimated 4.6 billion packages entered the EU from third countries in 2024
- VAT declarations via IOSS exceeded 26.3 billion euros in 2023 with a 35 percent increase
Source: taxheaven.gr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
