With the imminent implementation of the EU’s new VAT regulations, where any print magazine sold into the EU must have country specific VAT applied to it, magazine publishers are faced with increased costs and administrative burdens from July 1st, says Newsstand.
Newsstand has launched an IOSS ready solution that publishers can sign up to in a matter of hours and ensures compliance in a cost-effective manner, says the company.
“Signing up to the IOSS scheme is both time consuming and costly, with operating costs north of £2,000 for just the first year. We saw the need for a better solution and are delighted to be able to offer the same service for a £150 set up fee. The fact is that we will probably save our customers on their fulfilment costs too – always a welcome bonus,” said Paul Doleman, MD.
The publisher branded white label websites give customers the ability to purchase single copies and subscriptions from a publisher in a seamless experience and automatically handle the charging, collection, reporting and submission of the correct VAT amounts, via the IOSS platform.
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