What is IOSS (One-stop Import)? IOSS (One-stop Import) Review, Features

About IOSS

• Under the VAT regulations applicable until July 1, 2021, commercial goods with a value of no more than €22 will not be subject to import VAT.
• The new VAT e-commerce rules will repeal this provision from 1 July 2021. Therefore, from 1 July 2021, all commercial goods imported into the EU from third countries or territories will be subject to VAT, regardless of their value.
• IOSS allows suppliers and electronic interfaces selling imported goods to buyers in the EU to collect, declare and pay VAT to tax authorities, rather than having buyers pay VAT when goods are imported into the EU as was previously the case.

IOSS Registration

• From April 1, 2021, sellers in the EU can register through the IOSS portal in any EU member state. If your company is not based in the EU, you will need to appoint an intermediary established in the EU to fulfill VAT obligations under IOSS.

• IOSS registration applies to all long-distance sales of imported goods to buyers in the EU.

IOSS Advantages

• IOSS facilitates the collection, declaration and payment of VAT by sellers selling imported goods at a distance to buyers in the EU.
• Long-distance sales of goods: Imports from a third country or a third territory are goods sent or transported by or on behalf of a supplier/seller to a customer in a Member State, including indirect involvement of the supplier in the transport or sending of the goods.
• IOSS also simplifies the purchasing process and there will be no unexpected fees when the goods are delivered, buyers only need to pay when they purchase.
• If the seller is not registered with IOSS, the buyer must pay VAT as well as customs clearance fees usually charged by the transporter.