Eurora Solutions, the provider of an AI/ML-powered (artificial intelligence/machine learning) cross-border trade compliance platform, notes the upcoming regulation changes in Singapore, which directly affects UK and EU companies exporting low-value goods to Singapore.
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On July 1st, 2021 the way exporting goods to the European Union works gets a complete overhaul. If you want to keep selling goods to customers in the EU, you must adapt for new rules governing taxation and customs declarations. Alexander Maasik, Head of Communications at Eurora – an intelligent cross border compliance platform for e-commerce marketplaces and carriers- says you need to do it fast or risk losing all your business in the EU.
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The UK’s HM Revenue & Customs has announced that The Fulfilment House Due Diligence Scheme (FHDDS) opened for registration on 1 April.
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PostNord has announced that, from 1 March, all mail items with a declared value that come from outside the EU Customs Union will have VAT applied to them from the first krona, usually at a rate of 25%.
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PostEurop, representing European postal operators, has welcomed the approach of the European Commission’s recently published plans to modernising the VAT rules for cross-border e-commerce, avoid situations of VAT fraud and reduce the administrative burden on businesses and suppliers.
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