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Is your business ready for these major European E-commerce changes?

In this article in Netherlands-Thai Chamber of Commerce (NTCC) Magazine HIDC helps companies to prepare for the new EU E-commerce packages.

Is your business ready for these major European E-commerce changes?

There are some packages that need to be handled with care. Unfortunately, not the fun ones, but still very important ones! Ever heard of the EU Goods Package? Or the EU VAT Package? Some major changes coming up if your business sells goods online in Europe. Make sure you are ready!

EU Goods Package

Because of the increasingly popular e-commerce and online trade, the European Union adopted the Goods Package to ensure products placed on the EU market are compliant with EU legislation. Starting June 16th 2021, the Goods Package strengths controls on products sold in the EU in these three ways:

  1. All non-EU manufacturers must have an ‘economic operator’ in the EU.
  2. Strengthened market surveillance of products.
  3. Stricter controls at the EU border

So if you want to sell your products in Europe (directly, online or through a fulfillment service provider), you will need an economic operator stationed in Europe to do so. We have specialized firms in our network who can help you with this. For example: they can take the role of economic operator for your business.

EU VAT Package

As from July 1st of this year, all B2C products delivered to the EU have to be taxed at destination. Their origin, whether it’s from the EU or anywhere else, will no longer be relevant. For these major changes your E-commerce business has to get it’s data, systems and processes ready in time. To simplify the VAT registrations, you can report the taxes and invoices with ‘One Stop Shop’ reporting systems to declare all cross-border B2C sales through a tax portal in one EU Member State.

What to do now?

How will these new rules impact your supply chain and transaction volumes? What about the required storage capacity? Which stakeholders need to be involved? And how can you make sure you still have a smooth customer experience? These are some important questions you might have. HIDC can help you with the answers! So, don’t hesitate to contact us. We are here to help!

Download the magazine and read the full article (page 11)

 

May 6th 2021

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Sjaak de Klein

Senior Manager Supply Chain Solutions Asia

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