IOSS- Import One Stop Shop Registration Ireland
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The Import One Stop Shop is a government platform for the declarations and submissions of payments of VAT and other low-priced consignments. From July 1 2021, the exemption from VAT for goods imported to the European Union valued at €22 or less will no longer be applicable. With this new system coming in the amount of time that is needed to complete the documentation has significantly reduced with a decrease in cost related to processing the documentation.
What Is Import
One Stop Shop (IOSS) And What Does It Do?
The Import One Stop Shop allows suppliers selling imported
goods to the buyers in the European Union to declare, collect and pay VAT to
the tax authorities instead of making the buyer pay the VAT at the moment the
goods are being imported into the EU. The IOSS is formed to make it easier for
the buyer who will only be charged VAT at the point of sales and thereafter no
unforeseen charges are to be paid when the goods are delivered.
IOSS Benefits
to the Suppliers and Consumers
It isn’t mandatory for the suppliers to use IOSS. However,
suppliers and consumers can reap umpteen benefits with the use of IOSS.
1.
Register in one Member State for all supplies within the scope of the
IOSS made across the EU.
2.
Report and remit all import VAT, within the scope of the IOSS, due
across the EU in one monthly return.
3. Charge VAT at the applicable rate at the point of sale to a consumer, with the result that goods will proceed through customs without the need for VAT to be paid at the point of importation.
How can Osservi be of your help?
From July 1 2021, new VAT rules for sales into the European
Union have come into force. Osservi has registered for IOSS (Import One Stop
Shop) to provide services being an EU registered English speaking entity to
outsource VAT e-commerce obligations in distance sales of imported goods with
similar tax systems and help UK based companies.
With the IOSS setting in, we provide value for businesses that sell goods across borders. You can really benefit from our expertise and knowledge no matter what the product is. Osservi will make sure to make international trade easy for e-commerce sellers and facilitate them by complying with customs regulations across the European Union. The goods that are covered under the IOSS are:
·
Transported from
outside of the European Union at the time the goods are sold
·
Transported in
consignments with a value not exceeding €150
· Not subject to excise duties (typically applied tobacco products or alcohol)
However, currently, the registration of IOSS is optional. You
can continue to use your current systems and facilities where you treat your
supply as an expert. For the import, you can either register with the
destination country or your customer will be liable to pay the import VAT or
any other handling charges.
Feel free to write to us at info@osservi.ie or
contact us on +353
1800 938 796 to know more on IOSS and how can we be of your help.
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