- Analyze your supply chain to determine your VAT obligations and potential new reporting obligations.
- Make sure your ERP systems are capable of determining VAT rates based on your customers' EU location.
- Consider whether it makes sense to join an OSS scheme for your business or whether you should keep your existing VAT registrations.
- Plan ahead if you need to opt out of EU member state registration to reduce your compliance burden.
- Designate an IOSS intermediary if you are outside the EU and plan to opt into this scheme. This may mean that guarantees will be required, which may incur additional costs for your business, which you should take into account.
- Talk to the marketplaces where you sell goods, as in certain scenarios they will be considered suppliers of your goods for VAT purposes.