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
VAT Changes in May 2023 and Beyond: What You Need to Know
The year 2023 brings significant changes to the global VAT landscape, with several countries implementing new regulations and adjustments to their tax systems. From VAT rate modifications to the adoption of electronic invoicing, these changes will have implications for businesses and consumers worldwide. In this blog post, we will explore some of the noteworthy VAT […]
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 […]
IOSS and Brexit: What You Need to Know
If you’re an e-commerce business selling to customers in the EU or the UK, you might have heard about IOSS and Brexit. IOSS, which stands for Import One-Stop Shop, is a new system introduced by the EU to simplify the collection and payment of VAT for cross-border e-commerce transactions. Brexit, on the other hand, is […]
IOSS vs Traditional VAT Compliance: Pros and Cons
The world of e-commerce has transformed the way businesses operate. With the rise of online shopping, cross-border transactions have become common, leading to new challenges for tax compliance. The European Union (EU) introduced a new VAT regime called the Import One-Stop Shop (IOSS) in July 2021. In this blog post, we will explore the differences […]
VAT Compliance in the EU: Tips for Non-EU Businesses
If you’re a non-European Union (EU) business looking to trade with the EU, it’s essential to understand the Value Added Tax (VAT) system. VAT is a consumption tax that applies to most goods and services sold in the EU. Non-EU businesses must navigate complex VAT rules and regulations to ensure compliance and avoid penalties. In […]