On Thursday (14.04.22) Mr George Katsoudas (Head of the Accounting at M. Target Group) attended a seminar regarding the “E-Commerce VAT package”.
The seminar examined the Union One Stop Shop (OSS), the Non-Union One Stop Shop (Non-Union OSS) and the Import One Stop Shop (IOSS). These three optional schemes were explained and analysed through a plethora of hands-on examples.
The schemes are applicable to cross-border Business-to-Consumer (B2C) e-commerce activities of various nature such as goods and services, regardless if the supplier is established in the EU or not.
The scope of the amendments represents a major overhaul of VAT law, particularly to the VAT regimes for distance sales of goods and the importation of low value consignments, especially when selling goods online from an electronic platform.
As always, M. Target Group specialists remain at your disposal should you require any further information, clarification or professional assistance.