The Chelco VAT International Academy through its Lead Instructor, Alexis Tsielepis, continues its series of high-level VAT educational events with a full-day seminar focussing on the E-commerce package on Value Added Tax (VAT).

With the e-commerce package in full swing since 1 July 2021, it is high time that this subject is revisited, especially now that the Cyprus e-commerce legislation has been enacted. So come on in and find out how things are going. Comment ça va?

The seminar will examine closely the Union One Stop Shop (OSS), the Non-Union One Stop Shop (Non-Union OSS) and the Import One Stop Shop (IOSS). These three optional schemes will be explained and analysed through a plethora of hands-on, practical examples.

The schemes are applicable to cross-border Business-to-Consumer (B2C) e-commerce activities, whether goods or services, regardless if the supplier is established in the EU or not. The scope of the amendments represents a major overhaul of VAT law, particularly to the VAT regimes for distance sales of goods and the importation of low value consignments, especially when selling goods online from an electronic platform.

Questions such as:

• How can I use the scheme?
• Am I eligible if I have other registrations in the EU?
• What if I have other establishments in the EU?
• Can I chose the country of registration?
• How can I deduct input VAT if I am using one of the schemes?
• What if I have very few transactions that fall within a scheme?
• Can I use more than one scheme at the same time?
• Plus many more to be discussed and addressed.

Using plain, easy-to-follow language and numerous practical examples, the seminar will cover:

• An explanation of the new special provisions for sales conducted through an online electronic interface (the “deemed supplier”);
• An explanation of the new EU-wide threshold of €10,000 for distance sales of goods;
• An explanation of the Union and non-Union OSS;
• An explanation of the scheme for distance sales of goods imported from third countries of an intrinsic value less than €150 (IOSS);
• An explanation of the record-keeping requirements in all the above cases.

The seminar is targeted towards VAT professionals, VAT advisors, businesses involved in the cross-border B2C supply of services or sale of goods, especially if such sales are made through online platforms (such as Amazon or eBay), VAT Officers, accountants of all levels, auditors, bookkeepers, et al.