Discussions
SuiteTax - Changes to the B2C Nexus Determination and One Stop Shop
This notification announces upcoming changes to NetSuite's SuiteTax feature to support the European Union's One Stop Shop and distance sales rules for VAT collection. These changes may affect you if you sell to EU non-business customers and use the NetSuite SuiteTax Engine. The changes will affect the SuiteTax feature in both production and sandbox accounts.
Note: Sandbox accounts require you to update SuiteTax SuiteApps bundles manually.
On July 1, 2021, the EU abolished the distance selling threshold and replaced it with a common threshold of €10,000 throughout the EU for B2C sales. To simplify the collection of VAT and minimize cross-border compliance costs, the EU extended the current Mini One Stop Shop (MOSS) scheme. The scheme is now named One Stop Shop (OSS) and includes physical as well as digital goods and services. See SuiteAnswers (Answer Id: 99970) for a summary of the legislative changes.
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
Expand your NetSuite knowledge by joining this month's Ask A Guru Live about Advanced Accounting. RSVP Now