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- If your business is not based in the EU, you will normally need to appoint an EU-established intermediary to fulfil your VAT obligations under IOSS.
- Your IOSS registration is valid for all distance sales of imported goods made to buyers in the EU for sales below €150
Registration for IOSS intermediary
Online Registration Requirements
• Business details, company name, and registration number.
• ID of business owner.
• Signed Power Of Attorney (POA),
Validation by MDC as an IOSS intermediary
Approval Process
• Financial risk assessment.
• KYC control process.
• Definition of deposit/ Escrow account agreement.
• Intermediary link form.
Monthly VAT/IOSS declaration
Monthly VAT Returns
• Merchant to provide Dataset of shipments including VAT of destination (consumption), provided by non EU seller to IOSS intermediary.
• Based on the declared VAT amounts (in datasets), a monthly tax declaration will be sent to the tax authority on behalf of seller.
• Based on the declared VAT the VAT amount will be transferred to the tax authority on behalf of seller and recorded by MDC.
Taxable persons (suppliers and electronic interfaces) who are not established in the EU or in a third country with which the EU has concluded a VAT mutual assistance agreement need to appoint an intermediary to be able to use the import scheme.
Other taxable persons (i.e. the ones established in the EU) are free to appoint an intermediary, but are not obliged to do so.
“We have recently assisted one of our clients to register for IOSS with MDC.
The process was clear and smooth, congratulations.”
Cinzia Beretta
2G Business Ltd
https://2gbusiness.co.uk/
“All MDC team made the IOSS registration and reporting a smooth process. They were always willing to help us when we had any question and did not hesitate to jump on a call with us. Response time and general customer service have been as expected.”
Enderson Velasquez
Global VAT Compliance
www.globalvatcompliance.com
“Everything so far has gone very smoothly, including both the onboarding process and now normal monthly processing of EU VAT.
We've been very, very happy with your service and glad we found you.”
Ben Monk
OneBookSelf
https://www.onebookshelf.com/
“It's working really well for us. It's easy to complete and straightforward.”
Jon Lane
Passenger
https://www.passenger-clothing.com/
