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Understanding VAT Collection Schemes

| November 17th, 2021
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As importers and exporters continue to get to grips with post-Brexit trade, import taxes and VAT changes, businesses should note that the One Stop Shop introduces three schemes which were launched on 1 July to deal with B2C supplies of goods and services to EU customers.

They are known as the ‘Union’, ‘Non-Union’ and ‘Import’ schemes.

The schemes are designed to facilitate the collection of VAT by one EU member state, which is then passed on to the member state in which the supply is deemed to take place. 

If businesses register for VAT using one of these schemes, they will complete one return for all EU sales, rather than being required to register for VAT in all member states in which your customers are based. These schemes will allow businesses to declare sales across all EU member states. 

For more information, please contact us.