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…

  • 12 Time Management Apps to Organize Your Life and Keep You on Track

    12 Time Management Apps to Organize Your Life and Keep You on Track

    This article is from Shopify, and was republished and shared through Elksourcing with the permission of Shopify. Original link:https://www.shopify.com/blog/time-management-apps No matter who you are, you probably wish there were more hours in a day. Time is a precious resource—you can’t stop using it and you can’t find more of it, but you need it to do absolutely everything. From scheduling meetings to fulfilling orders, time is behind every aspect of running a business and you can’t afford to manage it poorly. Ineffective time management can take many forms. Whether it’s procrastination, personal distractions, or projects that take more time than they should, there are tons of things that waste our time every day. Wasted time means rushed deadlines, a work-life imbalance, and more stress and anxiety. When it comes down to it, you just need to use the time that you have more effectively. Thankfully, opportunities to manage your time better are everywhere….

  • Elksourcing:What is a QC Inspection and How to Select a Right QC Inspection Partner in China

    Elksourcing:What is a QC Inspection and How to Select a Right QC Inspection Partner in China

    Quality control can be defined as “part of quality management focused on fulfilling quality requirements.” While quality assurance relates to how a process is performed or how a product is made, quality control is more the inspection aspect of quality management.Inspection is a major component of quality control, where physical product is examined visually. A quality control inspection is an activity of checking quality of any product, such as measuring, checking, examining, testing or gauging one or more characteristics of a product and comparing the results with specified requirements in order to establish whether conformity is achieved for each characteristic. The quality inspector usually follows a pre-established checklist that is based on the product specifications. Inspected products can be the components (raw materials) used for production, semi-finished goods, or (most often) finished goods before shipment to a customer. Why you need a quality control inspection service in China ?  To answer…

  • Elksourcing:Major Ways to Source China Suppliers

    Elksourcing:Major Ways to Source China Suppliers

    As an experienced sourcing specialist here in China, I’d like to share some experience in sourcing qualified suppliers or partners at our end. Currently we have following major ways to source qualified suppliers or partners in China:  1).Industry Fair or Show In China almost every industry has their own trade show or fair. So industry fair is one of the best ways for you to source and meet some qualified suppliers and exporters. Here is an example, if you are looking for Chinese fruits, you can simply attend IFRESH FAIR or Asia Fruit Logistica (www.asiafruitlogistica.cn), you will find out many qualified suppliers there.  2).Industry Association The next way to source qualified suppliers is through industry association, every big industry has their own industry association as well. Take CIMA (China Instrument Manufacturers Association: http://www.cima.org.cn ) as an example, founded in 1988, the China Instrument Manufacturer Association (CIMA) is a nationwide, industry-backed and…

  • Elksourcing:1688 - the largest wholesale and sourcing market on the globe

    Elksourcing:1688 – the largest wholesale and sourcing market on the globe

    Lots of foreign clients ask us where local Chinese source in China at present,the answer is definitely 1688.com. According to the recent market survey conducted by STIN company,92% of the small e-store Chinese sellers on Aliexpress, Amazon,Ebay and Taobao etc will source from 1688, the rest will source from the small factories owned by themselves or their relatives, 98% of Chinese sourcing specialists or buyers will source the suppliers on 1688, especially for small orders.  1688.com, which is a part of Alibaba Group, formally launched in early 2010 in China, has been the largest wholesale and sourcing market for all kinds of raw materials, industrial products, clothing, home appliances and other general commodities on the globe.  On their official website (www.1688.com), 1688 claims to have a number of 120,000,000 registered users, more than 10,000,000 companies (factories and wholesalers), with a wide range of 49 different industry sectors are registered with 1688.com, attracting…

  • Elksourcing:Tips for Negotiating Price with Chinese Suppliers

    Elksourcing:Tips for Negotiating Price with Chinese Suppliers

    When is the last time you negotiate price with your Chinese suppliers? It’s one of the best ways to decrease your expenses so you can realize more profit in your business. Everything is negotiable, but you should be prepared before you go to the bargaining table if you want to get the best deal.  Negotiating with suppliers doesn’t have to be difficult, but it does pay to have a plan before you approach them. Follow below tips to get better deals with your suppliers. 1. Sell yourself as repeat business owner Chinese suppliers are just like any other business owners: They want to sell as many products as they can, and they appreciate the customers who will help them reach that goal. When negotiating with suppliers, make sure they know you are someone who will give them repeat business, over the long term. If you have a track record of past…

  • Elksourcing:Tips for Chinese Supplier Management

    Elksourcing:Tips for Chinese Supplier Management

    Chinese supplier management allows you to build a relationship with your Chinese suppliers that will strengthen both businesses. Supplier management is not negotiating the lowest price but constantly working with your Chinese suppliers to come to agreements that will mutually benefit both companies. 1. Share Information and Priorities The key to succeeding in supplier management is to share information and priorities with your suppliers. That does not mean that you throw open the accounting books and give them user IDs and passwords to your systems. Appropriate supplier management practices provide only the necessary information at the right time to allow a supplier to serve your needs better. It may include limited forecast information, new product launches, changes in design and expansion or relocation changes. 2. Balance Commitment and Competition One of the goals of supplier management is to gain the commitment of your suppliers to assist and support the operations of your business. On…

  • Elksourcing:Advantages of Factory Audit in China

    Elksourcing:Advantages of Factory Audit in China

    For the business of importing from China, choosing the right supplier is the most important thing you need to focus at beginning. A right supplier will not only produce the products at a competitive price, but also provide good service on the supply chain.  In order to verify and select the right supplier, it is recommended to do factory audit, as there are many advantages. 1. Amplifies Performance Visibility When companies don’t know the facts about how their suppliers are performing, factory audit tends to be based on guesses. Additionally, the simple act of measuring performance can help improve performance. This improvement can be even more dramatic when companies award additional business on the basis on suppliers meeting performance goals. 2. Uncovers Hidden Cost in Supply Chain The supply chain is full of potential risks that can originate from suppliers in regard to corporate social responsibility. Some of these risks can…

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