One Stop Shop (OSS): This is what you need to know to utilize the possibilities from July 2021 on!
New European VAT rules for e-commerce sellers allow you to have one VAT registration, making it easier to report VAT in Europe: The One Stop Shop, in short OSS.
All sales and VAT will be reported and paid in a single country, abolishing the obligation to be VAT registered in all EU countries where your business is selling.
Depending on the country your company is established and your type of business, OSS consist of three possible schemes to join:
• Union scheme: your business is established in a EU country;
• Non-Union scheme: your business is established in a non-EU country;
• Import OSS: either established in a EU country, if established in a non-EU country you will either have to appoint an intermediary.
Are you trying to find out how the new regulations apply to your business specifically or do you need help in registering for VAT and fulfilling your VAT compliance in EU?
We have years of experience in e-commerce VAT compliance from Big4 to Fortune500 companies.
Feel free to contact us and a specialist will be happy to have a look with you into your questions!