US EditionEU to make sellers liable for VAT paid on imports
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The Ministers of Finance of the Twenty-Seven yesterday gave the green light to a directive that will make VAT collection responsible for imports from third countries to digital shops and platforms. Read
On Tuesday, EU Finance Ministers agreed on new rules to simplify and improve the efficiency of the collection of VAT for parcels from countries outside the European Union. The new rules include strengthening the "Single Window of VAT on Importation" (IOSS, for "Import-One-Stop-Shop") established in 2021, which allows VAT to be calculated and paid directly and which should become more attractive to use for foreign online shops.
European Commission | VAT rules: Council agrees position on directive simplifying tax collection for imports | European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources VAT rules: Council agrees position o
The Council reached agreement on the position of member states (the so-called ‘general approach’) on the directive on value added tax (VAT) rules for distance sales of imported goods and import VAT. The directive seeks to improve the collection of VAT on imported goods by making suppliers liable for the VAT paid on imports, which is likely to encourage them to use the VAT import one-stop-shop (IOSS). VAT collection on imports through the import…
EU to make sellers liable for VAT paid on imports
standfirst: Foreign traders and online platforms will be responsible for import VAT on distance sales of imported goods across the EU in futureThe European Council plans to tighten the VAT rules for distance sales of imported goods and import VAT.The amendment to the VAT Directive seeks to improve the collection of VAT on imported goods by making non-EU suppliers liable for the VAT paid on imports.The move is designed to increase the use of the …
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