Air, Express, Freight News, Logistics

Fedex streamlines e-commerce imports

[ May 11, 2021   //   ]

FedEx Express has selected audit and tax advisor KPMG to offer a new Import One Stop Shop (IOSS) service to help e-commerce sellers from outside the European Union. From 1 July 1the EU will introduce a new IOSS regime for the declaration and payment of VAT on ecommerce sales of goods valued at up to €150 imported from non-EU countries or territories and the VAT exemption for imported goods into the EU with value not exceeding €22 will be removed. By using the IOSS, VAT will not be paid at the time of importation of eligible goods but will be paid as part of the purchase price. This prevents businesses’ ecommerce customers from being confronted with unexpected costs and delays at the time of delivery.