Insights

The European Union (EU) has a solution to the problem of double taxation arising on the new EU Import One-Stop Shop (IOSS) scheme.

From January 1, 2023, platforms will be required to provide information about their sellers under the EU DAC7.

Case C-714/20 of the Court of Justice of the EU (ECJ) is of particular interest to forwarding agents.

The European Council has amended the EU VAT Directive relating to the place of supply for virtual events.

Most goods imported into the Netherlands from outside the EU are subject to VAT. The VAT will have to be paid by the importer at the time of clearing goods into the EU.

Customs duty is levied across the EU at the place where goods are cleared into ‘free circulation’ in the EU. Once duty (if applicable) and VAT has been paid by the importer, the goods are in free circulation and they can then be released for use in the EU market.

In most of EU countries acting as an ‘Importer of Record’ means that you will have to register for VAT, charge VAT on sales and submit VAT returns.