The EU is abolishing the low-value consignment relief for standard and reduced VAT goods to the EU from outside the EU from 1st July, 2021.

The new IOSS(Import One-Stop Shop) system is being introduced by the EU to simplify VAT for distance sellers in July 2021.

The Import One-Stop Shop (IOSS) is simplier and easier to centralise the declaration and payment of VAT for distance sales of imported goods (with a value not exceeding €150) for EU countries. The IOSS means the consumer in European Union countries is only charged once at the time of purchase, no extra fees to pay when the goods are delivered. The VAT rate will be the one applicable in the EU Member State where the goods are to be delivered.

Everzon covered IOSS cost of European Union countries since 5 August!