United Kingdom Tax Agency Issues Guidance on Import One Stop Shop Regime for VAT

The United Kingdom HM Revenue and Customs Feb. 19 issued guidance on registration criteria for the VAT import one stop shop (IOSS) regime. Taxpayers can start an online registration to report and pay VAT on imports of low-value goods to consumers in the EU and Northern Ireland from March 1. The updated guidance includes: 1) VAT registration obligations and instructions; 2) applicability of VAT registration requirements to goods imported with a value of 135 British pounds (US$170) or less from other countries to consumers in the EU, Northern Ireland, or both; 3) clarification that low value goods located in England, ...