What is changed to the European Union’s VAT rules per July 1st? : Global VAT Compliance

What is changed to the European Union’s VAT rules per July 1st? Print

Modified on: Tue, 13 Jul, 2021 at 2:04 PM

In short the changes that took place after July 2021 are:

- Removing the distance selling thresholds for sales of goods and setting a unified threshold of 10.000 euro

- Expanding the Mini One Stop Shop (MOSS) by Launching the new One Stop Shop (OSS)

- Ending the low-value import VAT exemption and introducing the new IOSS

- Online marketplaces will be deemed the seller for collecting and reporting VAT

- New record-keeping requirements will be introduced for online marketplaces facilitating supplies of goods and services

- Special arrangements in order to simplify imported goods with a value of less than €150 in case the IOSS (import one-stop-shop-) is not used

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What is changed to the European Union’s VAT rules per July 1st? Print