The biggest change for the 2022 VAT is that it will now be known as the OSS (Operators Services Scheme). This change is being made to help simplify the entire process and make it easier for online sellers to understand and comply with the rules.
Another key change that has already taken place is that businesses now have to charge VAT at the destination country, rather than the origin. This means that you’ll need to keep track of the customer’s country of residence in order to charge them the correct amount of VAT.
There are a number of other changes that will be taking place in 2022, so it’s important that you keep up to date on what they are and how they may affect your business. Prime Penguin can help you do this, so make sure you get in touch if you have any questions.
You know the saying, “when it rains, it pours?” Well, that’s definitely been the case for business owners lately with all the new VAT regulations. But have no fear! Prime Penguin is here to help.
We can set up and maintain VAT in different systems, so you can focus on your business. We’re here to help, so please don’t hesitate to contact us. We’ll get you set up and keep you compliant with the latest VAT regulations.
Thank you for considering Prime Penguin as your go-to source for VAT help. We look forward to working with you!