Get to Know Our Compliance Solution for the UK
With the UK’s official withdrawal from the European Union, relations between British and EU-based traders took new commercial, political and even social directions. Currently, countries on both sides are struggling to comply with numerous new rules and requirements that have added more complexity to the flow of goods in the region. Although economic agreements facilitate […]
Are IOSS and ICS2 the same?
Without much ado, the answer is no. Although they are both related to cross-border eCommerce, IOSS (Import One-Stop Shop) and ICS2 (Import Control System 2) are two separate systems with different purposes. Import One-Stop Shop (IOSS) IOSS is a simplified VAT payment system that was introduced in the EU in July 2021. It allows businesses […]
The ViDA Proposal: Revolutionizing VAT in the Digital Age
The European Commission’s proposal on VAT in the Digital Age (ViDA) marks a significant step toward modernizing the European Union’s VAT system. Unveiled in December 2022, ViDA aims to address the challenges posed by the digital economy and streamline VAT processes across EU member states. This blog post provides a concise overview of the key […]
New EU Customs Reforms to Impact Shoppers and eCommerce Giants
The European Union (EU) is introducing significant customs reforms in the e-commerce sector, aiming to address fraudulent practices and streamline the import process. These reforms will affect shoppers purchasing goods valued under €150 and will also target eCommerce giants like Amazon, preventing them from imposing hidden fees and unexpected paperwork on customers. In addition to […]
ViDA VAT vs. Traditional VAT: Differences for European Businesses
The world of taxation is constantly evolving, and European businesses are no strangers to the ever-changing landscape. The introduction of the ViDA VAT has brought about significant changes, prompting businesses to understand how it differs from the traditional VAT system. In this blog post, we’ll delve into the differences between ViDA VAT and Traditional VAT, […]
Unraveling the Distinctions: HTS vs HS Codes
In the world of international trade, accurate classification of goods is crucial for seamless customs procedures and efficient global commerce. Harmonized System (HS) codes and Harmonized Tariff Schedule (HTS) codes play a pivotal role in this process. While these codes may seem similar, they have distinct purposes and are employed by different regions and countries. […]
Understanding the Difference Between Import Taxes in the US and the EU
When it comes to international trade, import taxes play a significant role in regulating commerce and protecting domestic industries. Understanding the differences in import tax systems between the United States (US) and the European Union (EU) can help businesses and individuals navigate the complexities of cross-border transactions. In this blog post, we will delve into […]
How to Manage VAT and IOSS When Selling on Multiple Marketplaces
IOSS: Impact on Cross-border E-commerce
IOSS for Small Businesses: Everything You Need to Know
Are you a small business owner selling goods online to customers in the European Union (EU)? If so, you may have heard about the new Import One-Stop Shop (IOSS) system. IOSS is a game-changer for small businesses like yours, simplifying the VAT collection process and making it easier for you to sell to customers in […]