On July 1, 2021, the European Union will introduce changes to the existing VAT regime that will impact UK-EU trade. This memo covers the key points that will affect UK-EU trading that you should be aware of.
1. Removing The €22 VAT Exemption For Imports
The exemption for goods valued up to €22 no longer
applies. Therefore, VAT will be charged on imports to
the EU regardless of value.
VAT will apply at the rate of the buyer’s country of
residence. It is different for every EU country: for example,
Italy – 22%, France – 20%, Germany – 19% etc.
2. One-Stop-Shop (OSS) and Import One-Stop-
Shop (IOSS)
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