Support for IOSS - European Union's Import One Stop Shop
New EU rules come into force on the 1st July for business-to-consumer (B2C) sales into the European Union. These rules apply to all suppliers outside of the EU and are not directly related to Brexit.
From July, the VAT exemption for sales below €22 into Europe will be removed and all goods imported into the EU will be subject to VAT.
The EU's Import One Stop Shop (IOSS) has been created to simplify VAT and to ensure that customers do not face unexpected fees when their goods are delivered.
It is designed only for relatively small transactions (up to €150) and allows a seller based outside of the EU to register for VAT in a single European country yet charge and declare VAT at the correct rate for the particular country to which goods are being delivered.
Registering for IOSS is entirely optional - if sellers are not registered then any customers within the EU will pay the VAT and possibly other fees charged by the carrier, when the goods are imported.
We are pleased to announce that we will be offering support for IOSS within both axis diplomat 2020 and axis vMerchant. The axis diplomat IOSS module is scheduled for release during Q3 2021.
We're offering a 20% discount on the axis diplomat software module licence cost for any pre-orders received by 30th June.
For further information, please discuss your requirements with your Account Manager.
Discover more: https://ec.europa.eu/taxation_customs/business/vat/vat-e-commerce_en
