Invest in IOSS
As an international heavy hitting business person, you are naturally aware of the possibilities the new EU IOSS regulation brings. And exactly why this is NOT for you, this is for everyone else.
IOSS allows for easy VAT payments and filing on Low Value Consignments from outside of EU. SO?, one might ask. Well, now that the 22€ threshold is removed, all shipments are levied with the VAT. And, that means that there is no benefit from reporting the value below the actual sales value. Not that you did it but some did to a great extent and success. Falsified values create another problem: discrepancy between your reporting and customs reporting of your VAT. Of course if you like providing explanations to EU authorities have a go at it. But don’t expect to win.
For clarification IOSS is NOT obligatory! If your customers like unpredictable additional costs and significant delays, don’t register for IOSS. We simply remain envious of you.
For non-EU companies the minimum cost is registration and a monthly filing fee. As usual, the fees vary greatly and a high price is not any indication of a spectacular service or the scope of services. There are a number of companies specialising in this and as a reminder none of them can have more experience than from 1.7.2021 regardless of claims. In general, the annual cost range seems to be from 1.500€ up to – well, anything.
Mind you, that is not the full cost of compliance! You are still obligated to provide accurate VAT and duty calculations and to create accurate reports for your friendly VAT partner who will in-turn file them (and charge you for it).
And here comes the EAS team on their white-transparent horse! We can do all of that for you. At a price you will find more as small change than an investment into your e-commerce future.
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