Import One Stop Shop – 1 July 2021
The new EU-wide Import One Stop Shop (IOSS) will go live from 1 July 2021.
From that date the current VAT exemption for goods in small consignments of a value of up to €22 is abolished and all goods imported into the EU will be subject to VAT.
The IOSS will allow suppliers making distance sale of goods imported from third countries to final consumers in the EU (e.g. online retailers) to declare and pay the VAT due on those goods by submission of a monthly return via the IOSS in the Member State where they have registered for the scheme.
