EU finance ministers reached a political agreement (‘general approach’) on the directive on value added tax (VAT) rules for distance sales of imported goods and import VAT on Tuesday 13 May at the Ecofin Council (see EUROPE B13637A16).
The directive aims to improve VAT collection by making suppliers liable for VAT, which should encourage them to use the one-stop shop for imports (IOSS). “It ensures that VAT is paid upfront when the order is placed, rather than at the border; it...