What are EU import taxes?

As any individual or company importing goods into the UK, Customs and Excise will levy an import duty on the goods, which consists of a customs duty (IMPORT DUTY) and an import VAT (IMPORT VAT). They are calculated as follows: IMPORT DUTY = declared value of goods X product tax rate (here the tax rate refers to the tariff rate) IMPORT VAT = (declared value of goods + headway freight + DUTY) X 20% (merchants can be used as a credit in the quarterly declaration)

One of the new rules of the European Union's value-added tax (VAT):

Four major reforms:

Removal of the remote sales Starting threshold (applies to Europe-wide annual sales above the threshold of €10,000)2.Introduction of One-Stop-Shop (One-Stop-Shop or OSS) registration and filing service.3.Termination of VAT exemption for imports below €22.4.E-commerce platforms or Customs filers are responsible for collection and payment of VAT.5.The new EU VAT rules will be implemented in the future.

Expand one-stop coverage and simplify e-commerce VAT rules Extend the trial of the one-stop mechanism from EU countries to non-EU countries. Suppliers from non-EU countries only need to register in one EU country to file a one-time tax return for taxes incurred in all EU member states. The existing Remote Sales Threshold will be withdrawn and a "one-stop" EU VAT return (OSS) will follow.

Businesses selling goods online will fulfill all their VAT obligations through an online digital portal (MOSS) and file their returns through the system of the local tax authority in the country where they are registered in the EU. The annual sales involved in a single EU sales destination exceeding the threshold value of €10,000 are subject to the VAT rate of each EU destination country and can be declared using the MOSS system as a unified declaration.

Removal of VAT exemption on imports of low-value goods Removal of VAT exemption on imports of goods valued at less than €22 per unit imported online from non-EU countries. An import scheme will be created for goods valued at up to €150, where sellers can collect VAT from EU buyers at the point of sale, declare and pay VAT through the Import One-Stop Service (IOSS), providing a "green channel" for goods to clear customs quickly and easily. The goods will be exempted from VAT at the point of importation. These goods will be exempted from VAT at the time of importation, allowing them to be quickly released at customs.