Population circa 60m
64% population between ages of 15 and 64
74% internet usage
80% of consumers shop online at least once a month
Over a 6 year period since 2015, the value of the ecommerce market has nearly doubled
Last year, 30% of the Italian population brought goods or services cross-border
On the 1st of July 2021, the EU will update its VAT system for goods imported from outside the EU. The idea is to simplify and standardise the taxation of cross border supplies of goods and services. See below for our overview of what this means to UK ecommerce businesses and marketplaces exporting to the EU.
Up until the 1st July 2021, all commercial goods imported into the EU face no VAT if they are valued under €22. However this is subject to change.
As of the 1st of July 2021, all commercial goods valued at €22 or less that are imported into the EU will be subject to VAT irrespective of their value. This means that as of this date, all goods will be taxed, regardless of their commercial value. For commercial goods valued above the €150 threshold, customers are still obliged to pay customs duties upon importation into the EU. The rate of VAT varies depending on the EU country the customer resides in.
For more information and to find out about IOSS read our article here
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