Council of the EU | VAT: Council formally adopts new rules simplifying tax collection for imports | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources VAT: Council formally adopts new rules simplify

Council of the EU | VAT: Council formally adopts new rules simplifying tax collection for imports | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources VAT: Council formally adopts new rules simplify

The Council today formally adopted new value added tax (VAT) rules for distance sales of imported goods. The directive will improve collection of VAT on imported goods by ensuring suppliers are always liable for VAT paid on imports, rather than the EU consumer as is currently usual practice. This should encourage suppliers outside the EU to use the VAT import one-stop-shop (IOSS) for VAT reporting and collection. Import one-stop-shop (IOSS) The …