31 July 2023
The European Commission has published statistics showing VAT revenue collected during 2022 from the EU e-commerce packages. These figures indicate that:
- €17 billion in VAT revenue was collected from the One-Stop-Shop (OSS) return. The OSS return is the mechanism that sellers and marketplaces use to report VAT on distance sales across EU member states.
- €2.5 billion in VAT revenue was collected from the Import One-Stop-Shop (IOSS) return. The IOSS return is the optional mechanism to collect VAT on imports of low-value consignments under the value of €150.
Currently, over 130,000 companies have registered to account for VAT using these e-commerce packages, and the figures shown above indicate an overall increase in VAT revenue of 26% compared to 2021 figures.
If you would like further information regarding how the IOSS and OSS impact your business or need help registering for these packages, please get in touch for a free consultation.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
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