5 Advantages of the Import One Stop Shop (IOSS)
Published 17 June 2021
July 1st is approaching and kicks off the new VAT regulations, this means that (all) commercial goods imported into the EU will be subject to VAT, regardless of their value.
For this reason the EU has created the Import One Stop Shop (IOSS) to facilitate and streamline the collection of VAT for retailers to fulfill their e-commerce VAT obligations on distance sales of products imported into the EU.
July 1st is approaching and kicks off the new VAT regulations, this means that (all) commercial goods imported into the EU will be subject to VAT, regardless of their value.
For this reason the EU has created the Import One Stop Shop (IOSS) to facilitate and streamline the collection of VAT for retailers to fulfill their e-commerce VAT obligations on distance sales of products imported into the EU.
What are the advantages of registering for IOSS?
VAT collection
The main benefit of IOSS is that it facilitates VAT collection by enabling non-EU online marketplaces. They will be able to register for VAT in an EU member state, collect VAT on all their sales and report on a monthly IOSS VAT return.
Simplified process
For online sellers shipping to the EU, VAT collection processes will be simplified. The VAT liability (collecting and reporting) for sales in EU countries will fall on the marketplace and not on the merchant, provided the shipment is valued at less than (€150).
Say goodbye to surprise costs
Most EU customers face surprise costs and unexpected VAT payments from e-commerce companies. This will come to an end thanks to IOSS, customers will know exactly how much they are being charged (VAT included), resulting in a successful cross-border purchase and a satisfied customer.
Register in one country and distribute to the rest of the countries
By registering in only one EU member state, you will be able to distribute shipments to your customers in all other member states (say goodbye to multiple VAT declarations in each EU member state).
Streamlined customs clearance
IOSS facilitates the clearance of goods imported into the EU, as well as the clearance of goods destined for customers in all other EU member states.
The main benefit of IOSS is that it facilitates VAT collection by enabling non-EU online marketplaces. They will be able to register for VAT in an EU member state, collect VAT on all their sales and report on a monthly IOSS VAT return.
Simplified process
For online sellers shipping to the EU, VAT collection processes will be simplified. The VAT liability (collecting and reporting) for sales in EU countries will fall on the marketplace and not on the merchant, provided the shipment is valued at less than (€150).
Say goodbye to surprise costs
Most EU customers face surprise costs and unexpected VAT payments from e-commerce companies. This will come to an end thanks to IOSS, customers will know exactly how much they are being charged (VAT included), resulting in a successful cross-border purchase and a satisfied customer.
Register in one country and distribute to the rest of the countries
By registering in only one EU member state, you will be able to distribute shipments to your customers in all other member states (say goodbye to multiple VAT declarations in each EU member state).
Streamlined customs clearance
IOSS facilitates the clearance of goods imported into the EU, as well as the clearance of goods destined for customers in all other EU member states.
If this is the case, you will need to assign a representative to handle compliance with the new regulations for you. For this case Crossboderit (CBIT) has the solution your company needs through its IOSS representation. Crossborderit can get you registered and manage all your needs to ensure that your customers are satisfied and that there are no interruptions in your shipment.
Flat rate IOSS fulfillment, the easiest way to make sure your customers are satisfied. Crossborderit will execute your IOSS and fulfillment entries without managing a complicated pricing structure and elusive integrations.
Simply sign up, collect taxes from your customer and Crossborderit (CBIT) will take care of the rest quickly and easily.
Flat rate IOSS fulfillment, the easiest way to make sure your customers are satisfied. Crossborderit will execute your IOSS and fulfillment entries without managing a complicated pricing structure and elusive integrations.
Simply sign up, collect taxes from your customer and Crossborderit (CBIT) will take care of the rest quickly and easily.
What if you are not based in the EU?
Contact the Crossboderit team to get the advice you need on the new IOSS and also be your IOSS Representative.
CBIT has it covered for you. With simple onboarding and flat, simple shipping rates, it will be a breeze to calculate duties, collect them, even pay them for you. Plus CBIT offers simple DDP for these solutions for an excellent hassle-free customer experience.
Sign up with Crossborderit and ship hassle-free.
CBIT has it covered for you. With simple onboarding and flat, simple shipping rates, it will be a breeze to calculate duties, collect them, even pay them for you. Plus CBIT offers simple DDP for these solutions for an excellent hassle-free customer experience.
Sign up with Crossborderit and ship hassle-free.
