One Stop Shop - Adaptation to new EU VAT rules
Sinisalo, Essi (2021)
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021112922351
https://urn.fi/URN:NBN:fi:amk-2021112922351
Tiivistelmä
Value-added taxation's special system Mini One Stop Shop expanded on July 1st, 2021 to One Stop Shop. One Stop Shop contains three different schemes: Union scheme, non-Union scheme, and Import scheme.
Businesses (taxable persons) established in the EU can use Union scheme for declaring the sales of all services and intra-Community distance sales of goods to consumers located in different Member States than in which the taxable person is established. Non-Union scheme is applicable for all sales of services by taxable persons not established in the EU, to consumers located in Member States.
Import scheme is available for taxable persons who import from outside of EU VAT area low-valued (under 150 euros per consignment) goods to consumers located in Member States. Previously existed VAT exemption for low-valued imported goods has been ceased and from July 1st, 2021 VAT is assessed to all imported goods in Customs. If taxable persons use IOSS, goods are released into free circulation as the taxable person collects, reports, and pays VAT on purchase.
The purpose of this study is to analyze the expansion and its impact on taxpayers, consumers, government officials and other stakeholders. What are the benefits of using the system? What kind of adaptation it requires? What is in the future of European Union's value-added taxation?
This study was conducted for the Finnish Tax Administration and the results will be used to improve internal taxation processes.
Businesses (taxable persons) established in the EU can use Union scheme for declaring the sales of all services and intra-Community distance sales of goods to consumers located in different Member States than in which the taxable person is established. Non-Union scheme is applicable for all sales of services by taxable persons not established in the EU, to consumers located in Member States.
Import scheme is available for taxable persons who import from outside of EU VAT area low-valued (under 150 euros per consignment) goods to consumers located in Member States. Previously existed VAT exemption for low-valued imported goods has been ceased and from July 1st, 2021 VAT is assessed to all imported goods in Customs. If taxable persons use IOSS, goods are released into free circulation as the taxable person collects, reports, and pays VAT on purchase.
The purpose of this study is to analyze the expansion and its impact on taxpayers, consumers, government officials and other stakeholders. What are the benefits of using the system? What kind of adaptation it requires? What is in the future of European Union's value-added taxation?
This study was conducted for the Finnish Tax Administration and the results will be used to improve internal taxation processes.