GlobalTradePro – Articles

What are the advantages of IOSS?

What are the advantages of IOSS?

Until now, there was no tax on shipments valued at less than 150 €. This will change after July 1, 2021, all shipments in the EU will have to pay VAT. Tax authorities will start requiring traders to declare VAT on low-value shipments of goods in the EU. To make things...

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IOSS: the Import One Stop Shop for companies outside the EU

IOSS: the Import One Stop Shop for companies outside the EU

The IOSS scheme was designed for the sale of "low value" goods (not exceeding 150 EUROS) from outside the EU to EU buyers. Normally, shipments from non-EU countries with a value of less than 22 EUROS are exempt from VAT. The new VAT e-commerce rules will remove this...

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Why should you register with IOSS?

Why should you register with IOSS?

Ecommerce companies will be wondering why they should bother with IOSS. Using IOSS means that goods go through customs faster because VAT has already been calculated and accounted for, plus the end customer has full visibility and will not incur any surprise costs...

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How does the new IOSS system work?

How does the new IOSS system work?

The European Union operated with the low-value shipment allowance, which meant that import VAT was not taken into account for goods entering the European territory with a value of up to €22. In July 2021 this rule will come to an end and every shipment entering the EU...

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