Shopify and Crossborderit are your allies IOSS
December 16, 2022
Trade between countries around the world and the EU has relapsed since this year 2021. Retailers, most of the sales that have been made have been at a loss. The cost of doing business has increased by approximately 30% and, in many cases, VAT, customs and unexpected shipping costs have been passed directly to the end customer. A large proportion of companies have been forced to destroy stock in Europe due to the prohibitive cost of repatriating it back into the UK supply chain.
Low value shipments to the EU
If you sell low-value goods in shipments not exceeding €150 in value and you are registered for VAT Import One Stop Shop (IOSS) in the EU, you must report your IOSS registration number.
An intermediary (such as Crossborderit) is registered with IOSS and is responsible for accounting for the VAT of a supplier making distance sales of goods imported into the EU.
IOSS representation of Crossborderit
Fortunately for Shopify merchants, Crossborderit CBIT is internalized with the app along with Shopify's tax and duty calculator that allows merchants to calculate taxes at checkout, report shipments using their CBIT IOSS number and enter EU countries under the new "one stop shop" rules.
CBIT has it covered for you. With easy onboarding and simple, flat shipping rates, it will be a breeze to calculate duties, collect them and even pay them for you. Plus, CBIT offers easy DDP for these solutions for a great, hassle-free customer experience.
Discover the power of Shopify and Crossborderit for IOSS.