As of 1 July 2021, new VAT rules concerning distance selling of goods have come into force. In order to simplify the reporting and payment obligations for these transactions, various optional special schemes and corresponding electronic portals (OSS – IOSS) have been set up within the European Union.
Thus, the companies concerned can make the return and the payment via the following One Stop Shops according to the following periodicity:
- For the Union scheme (OSS): Quarterly filing – Next quarterly return to be filed (Q1) before 30 April 2022;
- For the Non-Union scheme (OSS): Quarterly filing – Next quarterly return to be filed (Q1) before 30 April 2022;
- For the Import One Stop Shop (IOSS): Filing monthly – next monthly return to be filed by 30 April 2022 for transactions carried out during March 2022.
As a reminder, all companies subject to the above reporting obligations must file the returns and make full payment (receipt of funds in the account of the competent administration) before the deadline indicated.
ASD Group will assist you with your tax formalities by carrying out the necessary procedures which make your international operations run smoothly.
For more information, contact our experts.
Source: ASD Group
