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iOSS

CATEGORY

Tax

Definition

iOSS (Import One-Stop Shop) is a scheme introduced by the European Union (EU) for the collection and remittance of value-added tax (VAT) on low-value imports of goods imported by consumers from outside the EU. The iOSS allows suppliers to charge and collect VAT at the point of sale, simplifying the customs clearance process and reducing administrative burdens for sellers and buyers.

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