EU VAT & CUSTOMS
URGENT! New Import One-Stop Shop (iOSS)
As of 1 July 2021, the European Union has introduced a new system (simplification) to cut costs, red-tape and speed up deliveries for distance sellers called the Import One-Stop-Shop (IOSS).
Take advantage now and register for IOSS with us!
EU Import VAT
When we were in the EU you didn't have to pay VAT on imports from the UK to the EU as the goods were already in the EU - they were not being exported or imported, but were simply moving from one Member State to another in the largest single market in the world.
Now that we are a so-called "3rd country" (non-EU Member State), we are outside the single market and customs union, meaning that all goods arriving into the EU are subject to Import VAT on arrival unless special arrangements are made. The major consequence of this is the impact on your cash flow. Without a fiscal representative or EU company to apply for deferment, you have to pay all the VAT upfront.
All goods imported into the EU from the UK are subject to import VAT
Goods not originating in the UK are generally subject to import duties
As import VAT is due immediately on import, it can cause major cash flow problems for your business. Avoid this by applying for VAT deferment.
Do you have goods in one or more warehouses or fulfilment centres in the EU? Make sure you are VAT-registered in each country holding your stock.
Intra-community triangulation supply is no longer available. Consider setting up a legal entity in the EU.
VAT Deferment: Fiscal Representative
In the Netherlands it is possible to appoint a fiscal representative on your behalf to apply for VAT deferment on your behalf, who takes full responsibility and liability for your VAT obligations, including filing quarterly VAT returns. However the major benefit of appointing a fiscal representative is to apply for a VAT deferment for you, so no Import VAT has to be paid, saving your cash flow considerably!
EU Fulfilment & Warehousing
Before registering an EU VAT number, the first thing you need to think about is where you would like to be based, physically or virtually, or just for VAT purposes. If you keep any stock or inventory in any EU member state, you have an obligation to register for VAT there. Amazon fulfilment centres and any other third-party warehouses count. There are no tax registration thresholds for you in this case; the physical presence of your business operations automatically qualifies you for VAT (if you hold stock in several EU countries, then you must register separately in each member state where it’s held).
Export from the Netherlands!
The Netherlands is the best place to base yourself and register for VAT. The port of Rotterdam is the gateway to Europe and The Netherlands is the ideal place to stock your inventory before selling it on in Europe. With euify you will enjoy unbeatable warehousing and drip-drop shipping advantages, slashing your costs. You have to VAT register at the EU point of entry anyway, so why not make it your base?
If you sell digital products or services to EU customers (B2C) and are charging VAT, you can use the new EU One-Stop-Shop's (OSS) Non-Union scheme to pay your VAT obligations. A single EU registration covers your VAT obligations in all 27 member states.
START YOUR IOSS REGISTRATION NOW!
EUify your business today!
Whether you chose for fiscal representation, or to create your own branch or subsidiary, EUify handles all of this for you so that you can spend your time focusing on what you care about, delivering a quality product or service to your customers in the EU market at the lowest cost, not fretting over tedious tax technicalities and administration!
URGENT! New Import One-Stop Shop (IOSS)
From 1st July 2021, all products imported into the European Union will be subject to import VAT, this includes low value goods under €22, as the EU’s the low value threshold will be scrapped. You have two options: either the seller or intermediary declares and pays the VAT via the EU new Import One-Stop Shop (IOSS) system or their customer will have to pay the VAT and any subsequent surcharges. Don’t delay: register now!!!
VAT, or BTW (Belasting Toegevoegde Waarde) as it is known in the Netherlands, is currently set at 21%. There are some exceptions to the otherwise mandatory VAT registration for Dutch companies, but one of the major advantages of an EU company is administrative simplification with an EU VAT registration.
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If you’re moving goods between the UK and EU or vice-versa, you are required to register for an EORI (Economic Operator Registration Identification) number. UK EORI numbers start with ‘GB’, Dutch ones start with ‘NL’.
Without a valid GB or EU EORI number, your goods will not clear customs authorities regardless of your VAT status.
Mini One-Stop-Shop - Now Under OSS
The Mini One Stop Shop (MOSS) was an optional scheme for digital services, that allows you to account for VAT – due in multiple EU countries for certain services – in just one EU country, saving you considerable red tape!
As of the 1st of July, MOSS has ceased and has been incorporated into the new EU-Wide OSS (One-Shop-Shop). Contact us to get registered.
We'll perform your quarterly VAT (BTW)
returns on your behalf, while keeping
you updated on rules and regulation