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• Agenda Builder launch
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• And more!
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Support for Import One Stop Shop (OSS) VAT Report in non-SuiteTax Environment
This notice applies to you if your subsidiary has the EU One Stop Shop feature enabled. The support for Import OSS VAT report will be available in Tax Reporting Framework SuiteApp version 1.07.0 which will be released on August 24, 2021.
What Is Changing?
On July 1, 2021 the official EU Mini One Stop Shop (MOSS) report was replaced by the EU VAT One Stop Shop (OSS) report. The new OSS applies to:
- All distance sales of goods within the EU
- Certain domestic supplies of goods facilitated by electronic interfaces under certain conditions
There are three specific schemes under OSS. These schemes enable taxable persons to declare and pay VAT due in Member States in which the taxable persons are not established. Taxable persons can use a web-portal located in the Member State in which they are identified to complete the payments. The OSS schemes are described as follows:
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
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