VAT and Changes for Online Sellers from July 1st Podcast with Nick from hellotax

The EU’s new VAT rules for e-commerce apply from the 1st of July 2021. These will include the One-Stop-Shop (OSS) single EU VAT return; withdrawal of the €22 import VAT exemption with an introduction of the Import One-Stop-Shop (IOSS), and Online Marketplaces will become responsible for charging and collecting VAT.

Under the new rules, all VAT reporting will be done with a single VAT return to just one member state. Online Sellers will charge the VAT but they will have to report this to anyone state's tax authority. The receiving authority will then handle forwarding VAT payments to the state in which the company has sold its goods.

The new system reduces extra paperwork for online sellers. In this podcast, Nick from hellotax, explains what to do next for the e-commerce sellers based outside of the EU.

☎️ Book a call - https://hellotax.com/

Key things you will learn:

• Why do I need VAT registration?
• How to register for OSS?
• Can I deregister my VAT ID in the countries where I do not store it?
• Can non-EU businesses use OSS reporting as well?
• So I also report B2B transactions in the OSS report?