TICK - Online sales management and integration with Amazon
What has changed since July 1? From 1 July 2021, if an electronic interface (online store, platform, etc.) facilitates the distance selling of goods by a non-EU seller to an EU buyer, the electronic interface is considered to be the seller and is responsible for the payment of VAT (an example here could be Amazon …
EVERYTHING YOU NEED TO KNOW ABOUT THE COMPREHENSIVE SERVICE POINT (OSS) Information for sellers What is changing from July 1, 2021? Currently, EU companies that sell goods remotely within the EU above a certain threshold (EUR 35,000 or 100,000 depending on the Member State) to buyers located in another EU Member State must register and …
EVERYTHING YOU NEED TO KNOW ABOUT THE NEW RULES OF VAT IN ELECTRONIC TRADE Information for EU consumers The cross-border value added tax (VAT) applicable to e-commerce is being modernized in the EU. The new VAT rules for e-commerce in the EU are suitable for the Digital Single Market: fairer, simpler and more fraud-proof. As …
Fulfillment by Amazon (FBA) is a service many retailers on Amazon Marketplace cannot do without. FBA means Amazon takes care of all logistics, including the handling of returns. While this is convenient, it also carries a high financial risk. One of the biggest challenges that Amazon FBA brings to a retailer is what is known …
Are the new VAT and customs duties resulting from Brexit choking the e-commerce dropshipping model? The complexity of import VAT, customs duties, product inspections and customs declarations are not favorable to the already very small margin of a model that has looked obsolete in recent times. The decline of dropshipping has been triggered many times …
The changes to the EU’s e-commerce rules will take effect on 1 July 2021. This factsheet provides an overview of the main changes and how we can support our SME customers. Time is of the essence. Changes to the rules will have a big impact on e-commerce SMEs. We provide sources for additional guidance at …
WHEN DO I HAVE TO FILE A CLAIM FOR VAT? Monthly VAT returns Companies that submit monthly VAT declarations electronically can apply for a tax refund, as long as these declarations include a deductible tax credit. Claims for monthly refunds must be a minimum amount of € 760. Quarterly VAT refunds Companies that submit quarterly …
Solar panel owners who want to recover their VAT and whose turnover will be very limited – less than 1,800 euros per year – will soon no longer need to register for the small business scheme. This is the answer of the Secretary of State of the Vijlbrief of Finance to questions from the House …
Administrative lightening in VAT for owners of solar panels in the Netherlands Read More »
Governments around the world are constantly updating tax laws with new laws that require your business to adapt to comply. Keeping up with all of this can be complicated, so to avoid the guesswork, TICK prepared the schedule below, which will allow you to see the most important changes that may be affecting your operations. …
Deadlines and calendar for e-invoicing and VAT compliance Read More »
The Hungarian National Tax and Customs Administration has issued a guide on the VAT obligations of foreign companies in Hungary. Registration obligation: The delivery of goods by the operator in Hungary is subject to VAT, which means that he must apply for a tax number in Hungary. A foreign entrepreneur can apply for a tax …
VAT in Hungary – obligations of foreign companies Read More »
HMRC has postponed the implementation date of the more stringent MTD requirements due to Covid-19. This extension is coming to an end. Applicable time limits In April 2018, HMRC launched the testing phase of a new digital system for tax purposes called Making Tax Digital. Until April 1, 2022. Only UK companies with a turnover …
End of the MTD transition period in the UK from April 2021 Read More »
Since the UK left the EU VAT system on December 31, 2020, UK and EU e-commerce retailers or B2B supply chain operators may be required to appoint Tax Representatives VAT for their non-resident VAT returns. However, on December 24, 2020, a Brexit Free Trade Agreement with no tariffs or quotas was announced. It included a …
Will I need a fiscal representative for VAT after Brexit? Read More »
The Hungarian National Tax and Customs Administration (NTCA) oversees the transition period for the real-time invoice data reporting system, from version 2.0 to version 3.0. . This new version will be mandatory for all taxpayers in the country from April 1, 2021. However, the system update that will be released through the new version will greatly simplify …
The CTC system update in Hungary combines e-invoicing and real-time invoice reporting Read More »
From 1 January 2021, Amazon will be responsible for collecting UK VAT on the following sales of goods delivered to UK customers if ordered through any Amazon store: 1. Goods delivered from inventory held outside the UK with a shipping value of up to £ 135; and 2. Goods delivered from UK stocks of whatever …
How will UK VAT procedures for sellers on Amazon change? Read More »
VAT and foreign goods sold to UK customers via trading platforms How will online marketplaces handle VAT on goods from abroad that are sold to UK customers. Goods sold before January 1, 2021 If you are selling goods to Northern Ireland from the EU or moving goods between Northern Ireland and the EU, different rules …
If you are a company that imports goods from outside the UK, there are a number of ways you can pay Duty, Excise and VAT. No payment when goods enter the UK. If you have deferred account , you will be able to delay payment until an agreed future date. It means: you delay paying the fees …
Important information from HMRC: Check how to pay import duties and VAT. Read More »
Trade agreement between Great Britain and the European Union. On December 24, 2020, the United Kingdom and the European Union finally concluded a trade agreement – the Trade and Cooperation Agreement (TCA). This agreement defines the trade relationship between the European Union and Great Britain after Brexit from January 1, 2021. Key information that businesses …
What do you need to know about Trade agreement between Great Britain and the Union? Read More »
Another year is behind us, it was definitely a different year from the others and that’s why we wish you: hope, your own patch of heaven, a cup of good, fragrant coffee, beautiful poetry, music, sunny winter holidays, rest, peaceful times, getting a distance from what is around, laughter and good memories. Merry Christmas! Facebook …
Brexit is fast approaching. In this post we will try to explain how the upcoming changes will drive the changes for sellers selling directly to UK customers and those who are using the FBA system. Direct sales to customers in the UK. What does this mean for my business at Amazon? As a result of …
Changes for Amazon sellers after Brexit. How to prepare for them? Read More »
On January 31, 2020, the UK left the EU and entered a transition period. As a result, the existing arrangements will apply until December 31, 2020. The UK is expected to formally leave the EU Single Market and Customs Union on January 1, 2021. From that date, the UK-EU customs border will apply, which will …
Do you sell on Amazon and you don’t know what will be the consequences of Brexit entry from January 1, 2021? How will UK VAT be charged on sales to UK customers? In the article below, we present information that is also available on Amazon, which we hope will clear some doubts for you. As …
From 2021, the United Kingdom, irrespective of the adoption of a free trade agreement (both in the scenario “with a free trade agreement” and the scenario “without a free trade agreement”), will be a third country. It will not be subject to the rules of the EU VAT system. In the context of VAT rules, …
The process of importing goods from the EU will change. Companies in England, Wales and Scotland must complete the following steps to continue importing from EU countries from January 1, 2021. You can also read directions for moving goods to, from or through Northern Ireland . Step number 1 Check if you should follow this step. You …
How to prepare for the import of goods from the EU to the UK from January 1, 2021? Read More »
The value added tax (VAT) declaration has changed slightly over the past 25 years. Questions are now being raised as to whether the current method of VAT reporting is outdated or at least in need of a revision or “facelift”. The VAT return and related reporting – more specifically the periodic intra-community summary information and …
Belgium: Possible changes in the periodic VAT returns Read More »
Italy is at the forefront of introducing Continuous Transaction Control (CTC) in the EU and continues to lead. Other European countries are looking for inspiration in Italy for their local CTC implementations. Even before the introduction of the severance e-invoicing system in 2018, the country had strict requirements for electronic archiving of documents. These documents …
France is to impose electronic invoicing on B2B transactions between January 2023 and 2025. This rule will include pre-approval of sales e-invoices through the government portal Chorus Pro before sending them to the customer. The withdrawal of paper invoices is included in the last financial account. The French are also proposing to introduce pre-filled VAT …
Will there be a B2B VAT e-invoicing obligation in France in 2023? Read More »
As you may know, Hungary plans to make invoice reporting compulsory. Any Hungarian VAT-registered entity that issues invoices with a VAT to another VAT entity registered in Hungary, or to physical person will be required to report these invoices “without delay to the Hungarian Tax Authority (HU TA (Tax Agency))”. This includes companies established outside …
Hungary is introducing mandatory e-invoice reporting Read More »
Changes to Amazon’s border policy will come into force on January 1, 2021. Their impact will begin to be felt in a few weeks in mid-November. You should consider how this will affect buyers and sellers through the Amazon platform? Surely the last 12 months have been difficult for Amazon third party sellers. At the …
The UK government today warns companies to prepare for customs declarations and possible calculation of import tariffs from the EU. They will appear at the end of the Brexit transition period – January 1, 2021 – when the UK leaves the EU Customs Union. To complete tariff declarations and calculations, you must be able to …
UK warns about Brexit tariffs and customs declarations! Read More »
Following Brexit, UK companies will have to appoint a tax representative in most EU countries where they are currently VAT registered. The UK will become a non-EU country once a no-deal Brexit becomes effective. Hence, some additional administrative obligations will apply. These will include VAT refunds in the EU, customs formalities as well as tax …
Tax representative in Europe after Brexit – Get ready! Read More »
The UK is expected to formally leave the EU’s Single Market and Customs Union on 1st of January 2021. At this point, negotiations between the UK and the EU (including a tariff arrangement) are ongoing. On January 1st, 2021, it will affect companies that operate between the UK and the EU, as well as their …
How will FBA work in the UK from 1 January 2021? Read More »
From the moment Poland became a member of the European Union, the markets of the European Union have become open to Poles. More and more retailers began to offer the sale of their goods on foreign markets. One of the most popular markets for this expansion is the Amazon platform through which we are able …
Negotiations on a free trade agreement between the UK and the EU started due to a unilateral threat from the UK to revoke the Northern Ireland protocol. The negotiations were carried out at a very difficult time due to the worldwide pandemic and they still have to go through the Brexit blockades, which you can …
As the UK is preparing to leave the EU VAT system on December 31, 2020, UK and EU e-commerce sellers may be required to appoint tax representatives to represent them when compiling their VAT reports. It turns out that 19 countries out of the 27 EU will require some kind of tax representation. What is …
August 10 – VAT payers may decide to gradually repay VAT liabilities incurred during the coronavirus crisis. The payment schedule is as follows: Four monthly installments of 50% of the commitment payable from September to December 2020. Twenty-four monthly installments for the remaining 50% until December 2022. June 17 – Media reports that ministers are …
Italy – measures to counter the effects of COVID-19 Read More »
Countries around the world are beginning to respond to the global crisis caused by Covid-19. They are starting to introduce tax breaks to support an economy already hit by the crisis. We present this information below and we will update it on a regular basis. We will also take into account these reductions when submitting …
Bulgaria introduces VAT relief in the COVID-19 crisis Read More »
Amazon Sweden could be the next Amazon Marketplace launched, bringing the global total to 18 Amazon marketplaces.Business Insider points to Amazon’s brand register and notes that Sweden has been added as a national site where brands can protect their IP and add information about their products. Access to the brand registry is a pretty good …
Countries around the world are beginning to respond to the global crisis caused by Covid-19. They are beginning to introduce tax breaks to support the economy, which has already been strained by the crisis. Below we present this information and we will keep it updated. We will also take these reductions into account when submitting …
Global reduction of the VAT rate – a response to Covid-19 Read More »
Amazon issued a warning regarding product sales conditions. He emphasized that goods sold as new must be new. Even a shabby box is enough for many Amazon customers to consider the product to be used. Amazon insists on considering sales of products as new returned from their own customers. Amazon provided information about products and …
The innovation of our system is based on five pillars, which may be briefly described as follows: The first pillar is the integration of different platforms and understanding of recovered data. The data themselves are not necessarily useful or may not yet show their full potential. That is why it is crucial to understand the …
How is the Tick system innovative and how does it work? Read More »
After the increase in consumers making online purchases in Saudi Arabia, Amazon decided to start selling for this country. Sales are made via Amazon Souq.com. This change will undoubtedly increase the number of Amazon plus markets and will provide sellers with one more network connection reaching a large number of customers. The Saudi Arabian market currently …
France is to impose mandatory electronic invoices on B2B transactions from January 2023 to 2025. This will include pre-approving sales e-invoices via the government’s “Chorus Pr” website before sending to the customer. This solution already works for B2G invoices. The withdrawal of paper invoices is included in the latest financial invoice. The French also propose …
France will introduce mandatory B2B VAT e-invoices in 2023 Read More »
LOWERED VAT RATE IN GERMANY In an unexpected statement, German Chancellor Angela Merkel and several high-ranking cabinet members announced on Wednesday late evening (June 3, 2020) the introduction of a temporary reduction in German VAT rates. The regular rate from 19% will be reduced to 16%. The reduced rate from 7% to 5% respectively. The …
