Industry Insights Blog
Modernising VAT for cross-border e-commerce
The VAT e-commerce package is now fully complete with adoption on 12 February 2020 of Commission Implementing Regulation (EU) 2020/194.
This Regulation provides the details for the registration in the VAT One Stop Shop, including the Import One Stop Shop aka OSS, and for the VAT One Stop Shop return.
OSS is a new EU VAT scheme that simplifies up to 95% of VAT obligations for sellers of goods and services to consumers throughout the European Union.
If you are an entrepreneur or small business in Switzerland, the rules are a bit different than EU, so it is essential to know how to create proper invoices thanks to services like Magic Heidi or similar. Indeed, according to Swiss law, there is information that you must provide on your invoices for them to be compliant.
Correctly prepared invoices help avoid late payments, fines and accounting problems.
On 21 November 2019, the Council adopted new detailed measures that will pave the way for a smooth transition to new VAT (Value-Added Tax) rules for e-commerce.
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