Import One-Stop-Shop (IOSS)
The IOSS is an electronic portal that allows you to declare and remit VAT on sales of low-value goods imported and sold to buyers in the EU. It can only be used if:
The value of the imported goods is €150 or less
The goods are located outside the EU at the time of sale and dispatched to private individuals in the EU
How will the IOSS help your business?
The new IOSS aims to create a swift, efficient and transparent import process for both customers and sellers.
Under the current system, buyers of most goods sent from outside the EU are liable to pay import VAT. This often comes as a nasty surprise to the customer, which results in a poor customer experience and sometimes a loss in revenue if the customer decides to return the goods.
By registering for IOSS, sellers will be able to provide buyers with full cost transparency by charging the VAT at the point of sale. In addition, the sale is expected to benefit from a reduced customs clearance time that could mean a faster delivery time to customers.
Registering for the IOSS
Registrations for the IOSS opened in April 2021 and if a seller is established:
In an EU Member State - They will need to apply for the IOSS in the country where they are established.
In a non-EU country - They will be required to appoint a VAT intermediary and will register in the intermediary’s country for IOSS purposes.
The VAT intermediary is a taxable person established in the EU and will be responsible for declaring and paying the IOSS VAT on behalf of the non-EU seller.
How we can help?
At SEKO we can help you to register for the IOSS and can also provide intermediary services for non-EU companies looking to take advantage of this simplification.
If you would like further information in regard to our IOSS service, then please reach out to us on the contact details shown below.
Get in touch today: firstname.lastname@example.org