INSIGHTS AND RESOURCES
VAT and digital services: Looking forward to 2021
LIVE WEBCAST |
Authored by RSM US LLP
We have seen many new businesses adapt and launch online offerings to deal with the sudden stops caused by the pandemic this year. As U.S. businesses navigate this and the ongoing recovery, a number of significant changes are on the horizon. The first one is the exit of the United Kingdom from the European Union (Brexit) in January 2021. And six months later there will be the EU 2021 VAT reform for e-commerce, which will include:
- A single EU VAT return for e-commerce—OSS (One Stop Shop)
- Withdrawal of the low value consignment stock loophole and introduction of the import OSS (IOSS) import scheme
- Marketplaces as the deemed suppliers and VAT collectors on certain seller transactions
This webcast is focused on the needs of U.S. businesses and the set of unique challenges they face when engaging in online sales of both goods and services overseas. We’ll address the most common routes to market open to U.S. sellers, including utilizing online marketplaces as well as making direct sales or using agents or facilitators. Additionally, we will consider the best approaches for U.S. businesses to provide the most seamless experience to their customers while being compliant for VAT purposes around the world.
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This article was written by RSM US LLP and originally appeared on 2020-10-29.
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