Amazon Announces Discontinuation of Call-Off-Stock (COS) Program: What You Need to Know
Attention Amazon sellers: a significant change is coming your way. Amazon has officially announced that it will discontinue its Call-Off-Stock (COS) program, effective August 1, 2024. This decision has important implications for your inventory management and VAT compliance. Here’s everything you need to know to prepare for this transition and ensure your business remains compliant and efficient.
Key Details About the Discontinuation
- Effective Date: The COS program will officially end on August 1, 2024.
- Existing COS Inventory: If you currently have inventory managed under the COS program, you can continue to sell it until the discontinuation date.
- No New Activations
As of now, new activations under the COS program are no longer possible. Sellers will need to explore alternative inventory management solutions moving forward.
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Ensuring VAT Compliance
- Review Your Current Setup: Assess your current VAT setup and understand how the discontinuation of the COS program affects your tax obligations.
- Transition to the Pan-European Program: Amazon’s Pan-European program can be a viable alternative, offering centralized inventory management across Europe. Ensure you understand the VAT implications of this program.
- Consult with VAT Experts: Reach out to VAT experts or consultants who can provide tailored solutions and guidance to ensure you remain compliant with all VAT regulations during and after the transition.
Transitioning to Amazon’s Pan-European Program
- Centralized Inventory: You can store your products in multiple European fulfilment centres which ensures faster delivery to customers across Europe.
- Cost Savings: You can reduce cost by utilizing Amazon’s network of fulfilment centres.
- Increased Reach: You have access to a broader customer base by having your products available for faster delivery in multiple countries.
Preparing for the Transition:
- Understand the Requirements: Familiarize yourself with the requirements and benefits of the Pan-European program.
- VAT Registration: Ensure you are VAT registered in the relevant countries and understand the VAT obligations for each.
- Consultation Services: Seek professional advice to navigate the complexities of VAT compliance and the transition process.
Free Consultation on VAT Solutions
Navigating VAT compliance and the transition to a new inventory management program can be complex. To support you during this transition, we offer a free consultation on VAT solutions tailored to your specific needs. Our experts can help you understand your obligations, streamline your processes, and ensure a smooth transition to Amazon’s Pan-European program.