This article is from European Commission website, and was republished and shared through Elksourcing with the permission of European Commission website. Original link:https://ec.europa.eu/taxation_customs/business/vat/ioss_en#heading_0 The Import One-Stop Shop (IOSS) is the electronic portal businesses can use from 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 will 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 will be 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…

  • Elksourcing:The Top 10 China Sourcing Websites or Platforms

    Elksourcing:The Top 10 China Sourcing Websites or Platforms

    According to Elksourcing experience, here is the top 10 sourcing platforms or websites for foreign clients in China.  1.Alibaba   Website: www.alibaba.com Headquarter: Hangzhou, China  If you know Chinese, you can find more real factories on their Chinese version: www.1688.com  2.Made-in-China Website: www.made-in-china.com  Headquarter: Nanjing, China 3.Global Sources Website: globalsources.com Headquarter: Hong Kong, China 4.DHgate Website: www.dhgate.com Headquarter: Beijing, China 5.HC360 Website: www.hc360.com Headquarter: Beijing, China 6.GongChang Website: www.gongchang.com Headquarter: Zhengzhou, China 7.China Suppliers Website: www.en.china.cn Headquarter: Beijing, China 8.HKTDC Website: www.hktdc.com Headquarter: Hong Kong, China 9.DIYTrade Website: www.diytrade.com Headquarter: Hong Kong, China 10.ECVV Website: www.ecvv.com Headquarter: Shenzhen, China Elksourcing is striving to be the largest sourcing service company and her mission is to save you more time, cost and energy, reducing the risks in your business in China ! 

  • Elksourcing:5 Common Mistakes Made by Importers

    Elksourcing:5 Common Mistakes Made by Importers

    It is good for importers to read about best practices; however, it’s more important to learn the common mistakes made by importers. The followings are the most common mistakes. 1) Looking for the lowest price If you purchase something below market price, you are taking very high risks. Either quality will not be up to your standard, or you are about to get scammed. 2) Arranging shipment without quality inspection Once a production batch is on a boat, it’s too late. Verify quality yourself or pay for quality inspection services. You need to do it systematically, at least for the first 5 shipments, after that, you can do random skip-lot quality inspections. 3) Not keeping two weeks cushion for schedule There will be delays, with a certainty comprised between 30% and 90%. So, plan for it. Bonus: even worse than failing to plan for delays, is pushing the factory to reduce production…

  • Elksourcing:6 Common Mistakes for Sourcing in China

    Elksourcing:6 Common Mistakes for Sourcing in China

    Over our over ten-year experience of sourcing in China, we have come across some manufacturing nightmares that have happened in China. Here are 6 common mistakes we want to share with you. 1) Picking your partner based solely on price This is by far the most common and most disastrous mistake we see. And it’s easy to see why. In a world where incremental margin shifts can literally make or break profitability, it’s important to be price sensitive. But it’s also important to be price-savvy. Extremely low prices should generally serve more as a red flag than as an enticement. Cheap prices are often accompanied by cheap products, unresponsive vendors, or defective or hazardous materials. This is what many jaded entrepreneurs and small business owners have termed as, “The China Cost of Doing Business.”  2) Failing to verify your partner’s experience  When searching out a knowledgeable and reliable sourcing partner,…

  • Elksourcing:Step by Step Starting of Quality Control

    Elksourcing:Step by Step Starting of Quality Control

    Quality control is a necessity for most shipments. The constant search for cheaper suppliers, the bad habit of subcontracting to lower-grade factories, and the high risk of communication mistakes, all make a strong case for systematic inspections. 1) Establish clear expectations Some buyers choose a sample, negotiate a price, and then wait for delivery. This might work for off-the-shelf items with basic requirements, but not for most made-to-order products.  You should try to get golden samples (i.e. representative of what you expect to get out of bulk production), but this is usually not enough. You also have to confirm if your supplier accepts written specifications, which will become the checkpoints for the QC inspector.  2) Don’t only rely on final inspections Final random inspections are good for approving major aspects of production, but they tend to put a lot of pressure onto the supplier: what happens if serious non-conformities are found…

  • Elksourcing:What is Fulfilment by Amazon?

    Elksourcing:What is Fulfilment by Amazon?

    Fulfilment by Amazon (FBA) is an exclusive service provided by Amazon using which a seller can store their products in special warehouses of Amazon known as “fulfilment centres” and Amazon takes care of delivering their products to their final customers. Through FBA, you can relieve yourself with the responsibility of ensuring quick and reliable delivery of your products to your customers. If you opt for FBA, Amazon will keep a track of your orders, pick the required product from the fulfilment centre, pack it and ship it right to your valuable customers. Moreover, Amazon will also provide a round-the-clock customer support regarding your products being delivered to your customers. This would ultimately help you increase the scale of your operations and widen your customer reach. What benefits can you avail by FBA? Here are some of the key benefits you can avail if you opt for the FBA service of Amazon: 1)…

  • Elksourcing:7 Tips on Buying from China

    Elksourcing:7 Tips on Buying from China

    Buying from China is not an easy task, especially for the newbies. The importing process can be extremely complex, confusing, and costly. Expected gains can often be erased by long transit times, rising or fluctuating delivery costs, regulatory fees, and unexpected delays. Here are 7 tips for how to buy goods from china, and what you can do to make the process smoothly and efficiently. 1. Plan your import objective  Before embarking on the actual importation process, be clear about what you want to achieve. Choosing the wrong products will make the business lose sufficient time and money. All successful importers know the importance of choosing the right products for reselling. Therefore, be sure to gather sufficient informationabout your goods of choice. Also, obtain descriptive literature, product composition, and samples before making a final decision. This is crucial in furthering your understanding of the products as well as what you will…

  • Elksourcing:Importance of Registering Trademark in China

    Elksourcing:Importance of Registering Trademark in China

    In China, trademark is registered on a “first to file” basis. The trademark will be protected for the person who first applies for registration of the trademark. The registration should be considered both by people interested in selling to China and those planning to import goods from China. 1.    Who should register a trademark in China? You should register your name and logo when you buy goods in China, on which you place your logo (or if it is on the package). Registrations should also be considered when we decide to sell our goods in China. Thanks to that, we will be sure that only we have the right to use our logo throughout China. 2.    Consequences of not registering a trademark in China There are many consequences of not registering a trademark in China. Often there are situations when it’s not that easy to get your logo back. Certainly, you will…

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