On 1st July, the €22 VAT threshold (De Minimis) exemption on goods imported to the EU was removed.
This means that ALL commercial goods imported to the EU will be subject to VAT – regardless of value.
So, if you ship to the EU, this means that:
- VAT needs to be charged based on the customer’s location
- VAT has to be declared for customs clearance
- VAT returns have to be submitted
The new Import One Stop Shop will help simplify the declaration and payment of EU VAT for distance sellers.
To help you understand how the IOSS could help you, we’ve joined up with SimplyVAT.com to answer your most commonly asked questions.