Considering that 1 July is around the corner, we will dedicate this month’s blog posts to explaining the main rules of the new VAT IOSS system. The registration processes, however, are different according to where businesses are based. Do you know what the next steps are? Check out here how to get your business registered for the new tax system.
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READ MORE: Get Familiar With The New VAT IOSS
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The new rules apply for businesses selling goods and/or services to final consumers in the European Union. The procedures for Non-EU and EU businesses respectively follow below:
Non-Union Businesses Registration
- Company Name;
- Trading Name;
- Address;
- Website URL;
- Contacts;
- National Tax Reference Number;
- Bank Details;
- Prove that the same business is not registered in any other Member State.
Suppliers eligible to register for this scheme, i.e. those that are not established in the European Union, can choose to register in any Member State.
Union Businesses Registration
- Revenue Website (Local Tax Authority);
- Register for the OSS in the Member State where your business is established;
- In case a company has more than one establishment based in different Member States, it’s possible to choose one for the IOSS registration.
EU established businesses can use the Union scheme to declare VAT on cross-border B2C supplies of services in the European Union and intra-Community distance sales of goods.
The new Import OSS system is part of the EU’s VAT reform initiatives. The pre-registration period has already started and can be found on the website of tax authorities of any EU Member State. For more details about the new VAT IOSS system, you can check here.
Not sure how the new EU IOSS system will affect you and your business? Subscribe to our blog and visit our website and LinkedIn pages for more updates. You can also reach out to us by sending a message to info@mydutycollect.com. We will be delighted to hear from you.
