Introducing the new Import One-Stop Shop IOSS
On 1 July 2021, the EU made the most significant change to its VAT system in a generation. The Import One-Stop Shop (IOSS) scheme now applies to goods being sold into the EU with a total consignment value under €150.
The EU also removed the €22 import VAT exemption, which means all businesses not using IOSS will have to pay import VAT on all goods being sold into the EU.
Avalara
