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New European Union VAT Rules: One-Stop-Shop Reporting, E-Commerce, New Reporting Thresholds

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Tuesday, August 17, 2021

Recorded event now available

This course will address the new European Value Added Tax (VAT) rules effective July 1, 2021, and the registration and compliance obligations for U.S. companies conducting business in the European Union (EU). Our panel will explain how U.S. businesses selling goods, digital products, events, and other services to the EU and the UK - can make sure VAT does not end up as a cost.

Description

Significant changes are being implemented this year to the EU VAT regime - impacting multinational businesses. The new rules are meant to decrease the amount of VAT fraud, and to level the playing field for companies in the EU. Some of the new requirements related to e-commerce include a new reporting threshold, new VAT registration liabilities for the companies outside the EU, and the elimination of duty and VAT free imports on all goods. It also will make marketplaces (such as Amazon and eBay) liable for VAT on all sales within the EU and UK.

The largest change is e-commerce and businesses that sell goods and digital products and services to private customers in the EU. U.S. companies may unknowingly have filing and remittance obligations in the EU and the UK. Tax advisers in the U.S. working with multinational companies need to understand VAT fundamentals, including registration, reporting, and remittance obligations.

Listen as our panel of VAT experts review 2021 VAT rules impacting companies providing goods and services in the EU.

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Outline

  1. European Union and UK VAT: an overview
  2. Requirements
  3. July 1, 2021 new EU e-commerce rules
  4. Virtual events and other digital services
  5. Planning opportunities

Benefits

The panel will cover these and other critical issues:

  • When does online selling create a filing or registration requirement?
  • How does the new One-Stop-Shop (OSS) simplify filing requirements?
  • What are the new VAT concerns for online sellers offering low priced goods?
  • When are marketplace facilitators or web portals responsible for EU VAT?
  • What strategies can businesses use to reduce VAT and streamline reporting in the EU?

Faculty

Eriksson, Britta
Britta Eriksson
President and CEO
Euro VAT Refund

Ms. Eriksson's consulting clients on VAT matters include Fortune 500 companies, the U.S. Commerce Department,...  |  Read More

Wills, Matthew
Matthew Wills
International Tax Managing Director
BDO USA

Mr. Wills leads the International Indirect Tax Services group within BDO’s International Services practice. With...  |  Read More