As of July 1st, 2021 cross-border e-commerce VAT rules have been modernised in the EU. The new legislation introduces substantial new VAT liabilities and compliance requirements for both online merchants and marketplaces/multi-seller platforms facilitating sales to EU private consumers. This webinar will cover some of the key areas tax technology can help marketplaces work smarter not harder in solving some of the challenges posed by the legislation.
This interactive webinar will help you understand how marketplaces are managing and what process they are using for challenges such as:
- Where are the customer and underlying seller situated
- Line item liability assessment - A single marketplace shopping cart may contain items from multiple sellers, with different classification codes and VAT rates. Not only that but the VAT liability could fall to different entities for each item i.e. the marketplace, the seller or the buyer
- Complex invoicing obligations - There are four main invoicing implications that marketplaces must now consider; sending chains of emails, self-billing invoices, remaining compliant with 27 EU invoicing rules and multiple invoices per basket
- Record keeping compliance - How must data be recorded and stored in line with new IOSS and OSS schemes