- A unique consignment transaction number will be created for non-EU sellers or marketplaces using IOSS.
- This number will be linked to the sellers or marketplaces IOSS number.
- Customs can use this number to verify that goods are declared in the EC IOSS system.
- This helps prevent fraudulent shipments where someone uses another’s IOSS number to avoid paying import VAT.
- The EU is proposing to remove the €150 threshold for using IOSS starting March 1, 2028 as part of EU Customs Reforms.
Source: vatcalc.com
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.
Latest Posts in "European Union"
- EU VAT Guide: Disbursements vs Recharges Classification and Tax Implications
- Hungary’s Carbon Tax Conflicts with EU Emissions Trading System Directive 2003/87
- EU VAT Compliance: B2C Distance Sales Rules and €10,000 Threshold Guide
- EU Parliament Backs Tax Code Simplification to Boost Economic Growth
- Roadtrip through ECJ Cases – Focus on “Liability to pay VAT – VAT shall be payable by any person who enters the VAT on an invoice” (Art. 203)
