Glossary

IOSS refers to the Import One Stop Shop, an optional scheme for goods sent from outside the EU to customers located within the EU, applicable to consignments valued under EUR 150.

OSS stands for One Stop Shop, which is an optional scheme designed for goods shipped from one EU member state to individual customers in another member state. This scheme captures any cross-border sales of goods, reported in a quarterly VAT OSS return. Additional terms are ‘Union OSS’ and ‘Non-Union OSS’.

The Union OSS scheme applies to the sale of physical goods from both EU and non-EU businesses, and services provided by EU-based businesses.

Non-Union OSS is designated for the sale of telecommunication, broadcasting, and electronic services from non-EU businesses, as well as various services like event admissions.

MOSS, or Mini One Stop Shop, was established in the EU in 2015 for telecommunication, broadcasting, and electronic services. It consists of Union and Non-Union schemes depending on the location of the business. Companies registering for MOSS conduct VAT transactions at the local rate of their customers. All collected VAT is reported quarterly in a single VAT MOSS return, paid to tax authorities for distribution among EU member countries. Note that MOSS integrated with OSS beginning July 1, 2021.

A fiscal representative is jointly and severally liable for the VAT responsibilities of a non-EU entity. In some jurisdictions, having a fiscal representative is mandatory for non-EU companies to complete VAT registration and ensure compliance.

EORI, which stands for Economic Operator Registration and Identification number, is utilized by customs authorities within the EU to identify importers or exporters. A single EORI number suffices for all EU member states.

The Importer of Record is designated as the individual or entity accountable for the payment of import taxes and duties on goods cleared through customs.

The consignment value refers to the overall value of goods packaged and shipped together by the same supplier to a single customer.

EC Sales Lists track the movement of taxable supplies across EU member states, encompassing cross-border B2B transactions or inventory transfers between warehouses in various EU countries.

When importing into the EU, it is necessary to have either a registered address in the destination country or to appoint an indirect representative who will share liability for the imported products.