2021 e-commerce 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 e-commerce 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.