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Are you ready for the new EU VAT rules for B2C e-commerce (effective 1st July 2021)?
May, 2021
The new Europen Union (EU) rules pertaining to value added tax (VAT) are due to come into force on 1st July 2021. The new rules will affect everyone in the e-commerce supply chain.
Specifically, the rules relate to cross-border business-to-consumer (B2C) e-commerce.
This includes
online buyers and sellers, marketplaces, platforms, as well as websites that facilitate trade of goods both inside and outside the EU. The new rules would also affect
postal operators and couriers, customs and tax administrations.
As with all regulatory changes, forward planning and preparedness are key to ensuring efficacious and timely compliance.
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Related resources:
- Financial services – EU regulatory framework for crypto-assets »
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