July 14th, 2021 - 10:57 GMT
The European Union has introduced new rules governing the value-added tax (VAT) applied to cross-border e-commerce sales. These changes, effective July 1, 2021, include the removal of the VAT exemption on imported goods into the EU with a value up to €22. A special scheme for distance sales of low-value goods imported from third countries or territories into the EU has also been introduced. The Import One Stop Shop (IOSS) is an online portal that simplifies the declaration and payment of VAT for e-commerce sales of goods valued up to ...
