Illustrative image (Photo: Dammio) Hanoi (VNA) – Online B2C transactions to Europe will be subject to value added tax (VAT) from July 1, the Vietnam Trade Officein Belgium and European Union (EU) has said.
According to the European Council, any online sellers ore-commerce platforms must apply for business registration in an EU member stateif they want to sell products to the EU.
Their deals will be subject to VAT applicable in countries wherebuyers reside.
With the new rule, if the seller registers for Import One StopShop (IOSS) of each member state, consumers will know the final prices, inclusive ofVAT. If unregistered, online buyers must pay VAT when goods are imported to theEU.
The office suggested that online sellers should seek a partnerin the EU to handle VAT filing and payment procedures in line withregulations./.
