From 01 July 2021 there are new VAT on ecommerce rules for businesses supplying goods and services to private customers in the EU and/or importing goods from outside the EU.
One Stop Shop (OSS) Returns
If a business is providing distance sales of goods (supplies of goods to a private customer based in another EU country where the supplier is responsible for the delivery) in excess of €10,000 per annum then rather than register for and charge local VAT in every EU country where they make these supplies, they can instead register in just one EU country and report the VAT due on these sales.
OSS returns are required once a quarter and must be filed in addition to your domestic Irish VAT returns once you are registered.
Import One Stop Shop (IOSS) Returns
VAT is now be due on all goods imported into the EU regardless of value. Prior to 01 July 2021 there had been relief for low-value goods worth less than €22.
The IOSS will allow businesses to report VAT on distance sales of low value goods imported from outside of the EU. Low-value goods are goods imported in consignments that do not exceed an intrinsic value of €150.
VAT on these sales must then be declared on a monthly IOSS return.
Read more about the One Stop Shop (OSS) and the Import One Stop Shop (IOSS).
Your local TaxAssist Accountant can advise you on how to register for these schemes and assist you with preparing the returns and filing them on time with Revenue.
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