The online platform will help eligible FedEx sellers based outside of the European Union
FedEx Express has selected KPMG to offer a streamlined Import One Stop Shop (IOSS) solution at a discounted fee, to help its e-commerce sellers outside of the European Union (EU) with necessary IOSS compliance.
From July 1, 2021, the EU will introduce the new, non-mandatory IOSS regime for the declaration and payment of VAT on e-commerce sales of goods valued at up to €150 (US$ 183) imported from non-EU countries or territories, FedEx revealed in a recent press communiqué.
As part of the changes, the VAT exemption for imported goods into the EU with value not exceeding €22 (US$27) will be removed.
In order to access IOSS, suppliers who are not established in the EU will need to appoint a single VAT intermediary. KPMG firms will provide this intermediary service for businesses.
FedEx’s selection of KPMG helps to give e-commerce sellers preferential access to a new online portal and IOSS support at a discounted KPMG IOSS compliance fee. Sellers will be assigned a dedicated KPMG account manager who can answer questions users have about IOSS.
“At FedEx, we are committed to helping our customers navigate new regulatory landscapes so they can focus more of their time and attention on their business and their customers,” remarked Marius Penninks, Vice President, Clearance Operations, FedEx Express Europe.
The potential benefits of using the IOSS for e-commerce sellers include transparency to the customer; reduced compliance burden; quick customs release and flexible logistics, the press statement concluded.
