E-commerce is probably at an all-time high due to the current pandemic crisis. An increasing number of companies are opting to trade through online platforms. With that in mind, it is important to discuss the new VAT rules for e-commerce planned to be introduced on July 1, 2021.
One may categorise the main changes into four broad categories:
- A uniform distance sales threshold;
- The current “Mini One Stop Shop (“MOSS”)” to be extended to goods;
- Increased VAT obligations for electronic interfaces selling goods;
- The VAT exemption on low value shipments will be abolished.
Objectives of this Session
- A refresher on the basic VAT concepts, as preparation for the delivery.
- Reviewing the current VAT regulations in respect to E-Commerce
- Understanding the new e-Commerce package 2021
- A discussion of the main changes & benefits of the new regulations
- Working out a practical example focusing on the new legislation
Topics for this Session
- Refresher on core principles of VAT
- Analysing the current e-commerce VAT Obligations
- Detailed overview of the new E-commerce package 2021
- Comparison between both to understand the main changes
- A practical example focusing on this industry
- 15-minute Q & A session & discussion on the topic at hand
- Accountants and prospective accountants, tax lawyers &tax practitioners.