IOSS VAT Assessor

Ensure compliance with VAT regulations

VAT IOSS Assessor

The IOSS VAT Assessor helps businesses carrying out cross-border sales of goods and services understand their obligations under the IOSS VAT scheme that enters into force on 1 July 2021. Also, it provides the user with practical next steps on how to implement the correct VAT Registration.

It also runs feasibility checks in the background in order to validate the consistency of an invoice’s content. Furthermore, it automatically validates such data by connecting to external databases provided by the respective EU member states’ tax authorities.

Background

On 1 July 2021, the new IOSS VAT Scheme (Import One Stop Shop VAT) enters into force and all commercial goods imported into the EU from a third country or third territory will be subject to VAT irrespective of their value.

This new scheme will allow suppliers and e-commerce selling imported goods to buyers in the EU to collect, declare and pay the VAT to tax authorities, instead of making the buyer pay the VAT at the moment in which the goods are imported into the EU, as it was previously the case.

With BRYTER IOSS VAT Assessor, businesses can easily understand requirements and obligations of the new regulation, leveraging BRYTER risk management features. BRYTER solution enables online sellers to quickly assess eligibility for using the IOSS portal and gather relevant information required for customs clearance in the EU.

Benefits

Comprehensive

Businesses can benefit from a comprehensive tool that includes an assessment, practical information, and next steps of the process according to company practices.

Transparent Overview

Create a complete record of submissions for VAT on e-commerce sales across your organization. Track VAT request metrics, ensure compliance with current regulatory requirements, and plan team resources accordingly.

Streamlined Process

Build a clear, consistent process for managing VAT submissions and implement changes when required. Implement changes in VAT and tax regulatory landscape easily and quickly.

Highly customizable

Every application built on BRYTER is customizable. The IOSS VAT Assessor may reflect your company’s unique policies, processes, and risk treatments. The unique BRYTER Platform gives unparalleled opportunities for customization.

How it works

1

Collect information

Through a customizable and user-friendly interactive questionnaire, the relevant data regarding the VAT request is collected and processed. All necessary data and information can be collected during the initial request in a scenario-based manner, which makes follow-up requests for missing information superfluous.

2

Assess eligibility

BRYTER built-in risk scoring allows the user to assess eligibility for the IOSS VAT scheme based on regulation requirements.

3

Implement next steps

All collected data is elaborated and recorded in a database and the user gets relevant guidance on how to proceed with the VAT process.

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