By Linda Spencer
for the sale of “low-value” goods (not exceeding €150) from
outside the EU to buyers inside the EU. If the value of your
goods is higher than that, then you should follow other
traditional Import VAT rules. Photo courtesy: Shutterstock
U.S. suppliers selling over the internet to European consumers need to comply with new regulations regarding the collection, reporting and payment of value-added taxes (VAT). Starting this summer, sellers located outside the European Union (EU) and shipping orders to consumers located in any of the 27 EU states are required to collect and pay VAT taxes through a new platform known as the Import-One-Stop-Shop (IOSS). These new requirements cover all individual sales of up to €150 (approximately $178 USD) but do not include sales overseas suppliers make through third-party platforms, such as Amazon.
For more information, read the SEMA News article: ”European Union Sets New Online Sales Requirements for Overseas Suppliers.”