Our professional and specialized VAT team is always informed with the latest VAT updates and regulations from around the world. Here you will find all you need to know regarding all the latest VAT news and information.
According to the publication by the State of Maryland (US) “Business Tax Tip #29”, the sale or use of Digital Products and Digital Codes is subject to Sales and Use Tax (SUT). The measure is in effect since 14 March 2021 while the applicable Tax rate on digital products is 6%.
A new change yet to come in July for all companies is regarding CE-marked products that are imported in the EU.
Links to all the recent articles regarding the Changes that will take place for eCommerce VAT in July 2021.
Those who are accounting for Import VAT on their VAT Returns or, in other words, using the “Postponed VAT Accounting for Import VAT”, will see the end date to account for the mentioned import VAT has changed.
In case the IOSS (import one-stop shop) is not used then simplification measures will take place for distance sales of imported goods in consignments not exceeding EUR150.
The Canadian government is about to introduce new measures that affect electronic commerce supplies aiming to level the field between local and foreign digital providers of Digital Services.
The EU is changing its VAT rules in July 2021 in its effort to create a simpler and fairer environment for VAT and Online Marketplaces OMP’s
All e-commerce sellers need to be prepared accordingly for the VAT changes in July in order to reduce any impact on their businesses.
July Changes are around the corner and all businesses should get updated on what is changing and all of their available options.
If you are distance selling within the EU or if you are selling your products online from outside the EU to a European country then your business will be affected by the new changes taking place.