How Digitalization is Transforming Customs
The safe and legal flow of commodities across borders is made possible by customs, which is a crucial part of global trade. Digitalization has drastically changed the way businesses and governments handle the flow of goods in recent years, including customs procedures. Here are 5 ways that digitization is transforming the customs landscape. –READ MORE: […]
IOSS – Claiming VAT Refunds on Returned Goods
For businesses that operate internationally, claiming VAT refunds can be a complicated and time-consuming process, especially when it comes to returned goods. Fortunately, the introduction of the Import One-Stop Shop (IOSS) in the European Union (EU) has made the process much simpler. In this blog post, we will take a closer look at how IOSS […]
IOSS – Overpayments of VAT
Since the IOSS submissions started, many questions have been raised about overpayments of VAT and how the EU tax authorities will manage to administer overpayments. In today’s post, we will talk about how to identify and what to do in case of overpayments of VAT, following the instructions published by the European Commission in the […]
Switzerland and Norway have joined EU’s Import Control ICS2
The EU’s new security and safety programme have welcomed two EFTA members: Switzerland and Norway. The EU–Switzerland Joint Committee decision ensure Switzerland and Norway apply the same security and safety measures as the EU. As a result, trade between the two countries and the EU does not require entry or exit summary declarations. –READ MORE: […]
Get to Know Our Compliance Solution For Switzerland
Located in one of the best-connected spots in central Europe, Switzerland stands out for its beautiful landscapes, multilingualism and its mighty economy. Officially, the country is not part of the European Union or the Euro Zone, although it is one of the best known and most loyal economic partners of the EU, establishing numerous FTAs […]
ICS2 and the Importance of Submitting Accurate Data
The new European Union pre-arrival safety and security programme, Import Control System 2 (ICS2) will come into force on 1st March 2023 as a mandatory procedure for Economic Operators shipping goods to or via EU by air. It’s important to bear in mind, however, that submission of accurate data will play an important role to […]
MDC to Participate at the 2023 WMX in Miami
My Duty Collect will participate at the 2023 WMX Americas conference in Miami, US. The event will take place on 13 – 15 February. Attendees can join it by registering here. Don’t miss out on the chance to meet top-industry parcel and logistics stakeholders. –READ MORE: My Duty Collect is Now an IOSS Intermediary– Postal […]
IOSS: Registration for Multiple Schemes
A supplier established in the EU can be registered in the Union scheme under the OSS and also be registered for the IOSS. Registration for multiple schemes is perfectly accepted and allowed under the IOSS rules. Check out more details on whether your business is eligible for the IOSS multiple registration scheme: –READ MORE: Obligations […]
EU Commission Publishes the 2023 version of the Combined Nomenclature
Combined Nomenclature (CN) forms the basis for the declaration of goods (a) when they are imported or exported, or (b) they are subject to trade statistics within the EU. This determines the duty rates that apply and how the goods are treated for statistical purposes. The Combines Nomenclature is therefore an essential working tool for […]
Removal From The IOSS: How To Avoid it
The peak season is here and it is definitely the best time of the year for retailers and online sellers, considering the high demands. However, it can be tricky to remain tax compliant, especially when selling to EU-based final consumers. Non-VAT IOSS compliance can be costly and result in serious penalties imposed by the EU’s […]