Ersel

Stoudent
Hi all,

there are new EU VAT regulations taking place in a week . There is a link below [1], but if you google you can easily find multiple sources. One of the points listed is that the tax-free import of low valued goods up to 22 EUR is no longer valid. This might have other consequences as well. For example, the invoices or the proof of payments which are necessary to properly tax goods will potentially be under more scrutiny in some places.

A positive thing they are introducing is the OSS (one-stop-shop, somewhere IOSS). I am not familiar with how it exactly works from the sender's side, but basically it should allow the buyer to pay the VAT import taxes prior to the import of the goods. It is a sort of "one final price with all taxes included" system right at the vendor's website. Some bigger companies are already using the OSS system. The benefits are that the carrier fees for tax declaration can be avoided in some cases because the government does it instead. I assume some of you had at a certain point unexpected FedEx et al. procedural fees on top of the VAT.

For me, I haven't been getting many oils lately, unfortunately, so I am not that active but I do read the forum, so I wanted to give those of you who are unaware a heads up. Anyways, I hope you are all doing fine and that this, and also Brexit, doesn't hinder the vendors here that much. With Farid being less active I guess there is only Al Hashimi left from the vendors based in the EU (as far as I am aware).

wco link:
[1] http://www.wcoomd.org/en/media/news...tax-rules-for-e-commerce-from-1-july-202.aspx
Goods including shipping with value less than 1EUR are still tax-exempt.
 
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