2021 eCommerce EU VAT reboot
On 1 January 2021, the member states of the European Union (EU) will introduce sweeping reforms to the VAT obligations of B2C eCommerce
sellers and marketplaces.
The key reform will mean many eCommerce sellers will be able to report all their pan-EU sales on a single VAT return in their home country instead of having multiple VAT registrations across the EU.
This whitepaper covers the following areas of the 2021 VAT reform:
- A single EU VAT return for e-commerce
- Closing the low value consignment stock loopholeProof of cross-border transportation
- Marketplaces become the deemed supplier and VAT collector
These reforms are aimed at helping eliminate an estimated €50 billion in annual VAT fraud.