IOSS
Also called: Import One-Stop Shop
An EU scheme in which sellers or marketplaces charge EU VAT at the point of sale on distance sales of imported goods in consignments of up to 150 euros, and declare it in one monthly return. Goods with a valid IOSS number are released without VAT being collected at import.
In practice
Without IOSS the customer or courier pays import VAT and handling fees at delivery, which causes refused parcels and returns.
Applies to: 
EU
Related terms
- Low-value consignment
- A shipment, typically an e-commerce parcel, whose value falls below a threshold that triggers special tax or customs rules. In the EU and UK, VAT on…
- Import VAT
- Value added tax charged on goods when they enter a VAT territory, collected by customs together with duty. Its base is normally the customs value…
- De minimis threshold
- A value limit below which imported goods are cleared without duty or with simplified formalities. The EU ended its 150 euro duty relief on 1 July…