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The EU’s Import One-Stop Shop (IOSS) scheme simplifies your VAT obligations
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Import One Stop Shop
In addition to the One Stop Shop (OSS) scheme, the EU has also launched Import One Stop Shop (IOSS). Businesses in the EU and outside of the EU can report the value due on eligible B2C sales of imported goods to EU consumers via a monthly VAT return.
What is the new Import One Stop Shop (IOSS) scheme?
The IOSS is an online portal that works in tandem with the new One Stop Shop and allows businesses to report distance sales of imported goods worth less than €150.
Since the low value consignment relief of €22 was abolished on 1 July 2021, this scheme was created as an optional simplification for ecommerce businesses to remit the VAT due on their online sales of imported low value goods.
Which transactions are covered by the IOSS scheme?
Distance sales below EUR150
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What is included in the intrinsic consignment value? |
| Distance sales of imported goods in consignments with a value up to EUR150 are eligible for the new IOSS scheme. If the intrinsic value of the goods ordered by an EU consumer exceeds EUR150, this consignment will no longer be eligible for IOSS and instead, VAT will be due at importation. |
When goods are purchased by an EU customer, the intrinsic value should be the price of the goods themselves. Transport and insurance costs are not included in this value unless they are included in the price of the goods rather than displayed separately. Additional charges and taxes are also not included. |
What are your obligations under IOSS?
Once you are registered with the IOSS scheme, you must use it for all eligible supplies. When your business accepts payment from EU customers, VAT is due. If your customers are based in another EU country, and that is where the goods are delivered, you should apply the local VAT rate.
Monthly IOSS returns and VAT payments will be due to remit the VAT collected from EU consumers at the point of sale.
Shipping your goods into the EU when using IOSS
Businesses using IOSS will be able to ship the goods VAT-exempt to the EU after charging the VAT at the checkout. Seller’s IOSS identification number must be securely communicated to the person in charge of declaring the goods at the EU border.
As the seller already collected VAT at the point of sale, no VAT will be due upon importation as the parcel will have already been customs-cleared.
Should you be appointing an IOSS intermediary?
A non-EU business is normally required to use an IOSS intermediary under the new rules. IOSS intermediaries are a new type of representative. They register your business for IOSS, submit your IOSS returns on your behalf, as well as keep track of your IOSS VAT payments.
IOSS intermediaries are optional for EU-based businesses.
Start your IOSS registration today
We will contact you shortly to discuss your business operations and next steps after you fill out the form in as much detail as possible.
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