IOSS for EU Orders
The Grey For Now Games webstore uses IOSS for EU orders placed on the website.
This system was introduced in 2021, but we have enabled it for all EU orders from 26th January 2022. Note that we are registered via Sarissa Precision (who dispatch all our orders).
Before you read the information below, there are a couple of things to note about how the system works and how it is applied on the website.
1. If your order is over €150 excluding VAT and shipping, then NO VAT will be charged, and it will be payable when received, so if your order is above this value, we suggest you place it as two orders. If you have any questions on this, then please ask, and we can help or guide you (this applies only to EU orders) - €150 is the limit decided by the EU, placing smaller orders below the €150 mark will mean you have no VAT charges to pay on receipt.
2. UK pricing including VAT is shown until you checkout. Once the store knows your location it will alter pricing and VAT to reflect where you are in the world and if you are charged VAT or not (this applies worldwide).
So to avoid unnecessary import charges, for all EU orders:
- Keep your orders under €150 excluding VAT and shipping.
All you need to know about the Import One-Stop Shop (IOSS)
The Import One-Stop Shop (IOSS) is the electronic portal businesses can use since 1 July 2021 to comply with their VAT e-commerce obligations on distance sales of imported goods.
According to the VAT rules applicable up until 1 July 2021, no import VAT has to be paid for commercial goods of a value up to EUR 22.
The new VAT e-commerce rules abolish this provision as of 1 July 2021. Thus, from 1 July 2021, all commercial goods imported into the EU from a third country or third territory is subject to VAT irrespective of their value.
What is the IOSS for?
The IOSS allows suppliers and electronic interfaces selling imported goods to buyers in the EU to collect, declare and pay the VAT to the tax authorities, instead of making the buyer pay the VAT at the moment the goods are imported into the EU as it was previously the case (for products over 22 EUR).
What are the advantages of the IOSS?
The IOSS facilitates the collection, declaration and payment of VAT for sellers making distance sales of imported goods to buyers in the EU. The IOSS also makes the process easier for the buyer, who is only charged at the time of purchase, and therefore does not face any surprise fees when the goods are delivered. If the seller is not registered in the IOSS, the buyer has to pay the VAT and usually a customs clearance fee charged by the transporter.
Full details can be found here