- 11 May 2021
- Transport / Logistics Services
FedEx Express is to use accountancy firm KPMG as its EU Import One Stop Shop (IOSS) partner for business into the economic bloc. This is to help its e-commerce clients from outside the EU to meet IOSS compliance.
Under the IOSS scheme, VAT is to be added to the goods at checkout. Traditionally those goods’ delivery to the customer would have been paused until the customer paid the VAT and duties, after they had paid the net price at checkout.
As of 1st July, the EU is introducing the non-mandatory IOSS scheme to smooth e-commerce into the region for goods of up to €150. At the same time the VAT floor of goods value of €22 will be removed, meaning all goods entering the EU will be subject to VAT.
In order to qualify for IOSS, suppliers based outside of the EU will appoint a single VAT intermediary. KPMG is to be FedEx’s representative.
“With the various changes to the structure of the EU’s VAT regime right around the corner, it is vitally important that e-commerce sellers based outside of the EU consider their level of preparedness, or they risk impacting their customer experience and could take on additional time-consuming compliance tasks. At FedEx, we are committed to helping our customers navigate new regulatory landscapes so they can focus more of their time and attention on their business and their customers,” explained Marius Penninks, VP of clearance operations for FedEx Express Europe.
“We encourage the use of the EU’s IOSS regime to help prevent e-commerce customers taking on unexpected costs and delays at the point of delivery. The KPMG IOSS Portal is one of the many ways we’re helping our B2C sellers outside of the EU navigate these changes.”