8th September 2021: The most common VAT compliance issues have now been solved, thanks to the Comply platform from Taxback International.
From the 1st July the EU will reshape the current model of VAT obligations for B2C ecommerce sellers. Alongside the introduction of an Import One-Stop-Shop (IOSS), the arguable centrepiece of the new changes is the introduction of a One-Stop-Shop (OSS).
From 1 July 2021, a supplier selling goods from a third-country or third territory to EU customers can register for the Import One Stop Shop. The IOSS can only be used where the goods, excluding goods subject to excise duty, are dispatched by or on behalf of the supplier from outside of the EU at the time they are supplied and the intrinsic value of the consignment does not exceed €150.
Since January 1st, 2021 a new Plastic Tax has been introduced in the European Union. The EU Packaging Levy has been in put place as part of the EU COVID-19 recovery fund. The funds raised from this revenue stream will bolster EU budgets between 2021 and 2027 alongside other environmental taxes such as the ‘Carbon Border Adjustment Mechanism’ or Carbon Border Tax.
10th August: The SLIM VAT 2 package will be introduced on 1 October 2021 and will loosen some of the rules that were introduced with the original SLIM VAT package on 1 January 2021.
10th August: Romania has announced plans to introduce obligatory SAF-T reporting from 1 January 2022. This will be rolled out in phases and the first phase will apply to large taxpayers.