EU & UK Ecommerce VAT reforms
In 2021 the EU and UK have overhauled their ecommerce VAT regimes to simplify compliance and reduce VAT fraud.
Whether you are a seller or marketplace, you need to understand your obligations to avoid extra VAT costs and a bad customer experience.
EU 2021 ecommerce VAT package
On 1 July 2021, the 27 member states of the European Union (EU) introduced sweeping reforms to the VAT obligations for B2C ecommerce sellers and marketplaces.
These include: the One-Stop Shop (OSS) single EU VAT return; withdrawal of the €22 import VAT exemption with the introduction of the Import One-Stop Shop (IOSS); and marketplace deemed supplier obligations.
UK marketplace VAT & customs changes
In January 2021, online marketplaces trading into the UK, were hit by a triple wave of customs obligations and VAT charges, due to: the end of the Brexit transition period, HMRC's new rules on imports and cross-border marketplace VAT liabilities.
Find out more how this affects your business in the UK in the links below:
