How do you handle VAT, invoices and the OSS scheme as a seller on bol?

How does the financial settlement on bol work?

bol bundles all of a month's income into one clear invoice: the sales invoice. That covers all income minus all expenses, such as pick, pack and storage costs. Returns are settled in the period in which the return takes place; you can read exactly how those rules work in bol's return rules. The sales invoice is ready on the first day of the following month and you download it in your seller account under the 'Finances' tab. You see the details of the income and expenses in the invoice specification. Which cost items together determine what you keep at the bottom line is covered in which costs determine your profitability on bol.

When do you have to send an invoice to a business customer on bol?

If you supply an item to a business customer, it's your responsibility to issue a correct invoice. That's a legal obligation: you send the invoice along with the order or by email. For every order bol automatically indicates whether it comes from a business account, so you can immediately see whether you need to include an invoice.

Creating and sending those invoices can be automated. With MarktMentor you automatically upload an invoice to bol for every order, which saves manual work and errors on invoice requests.

What must be on the invoice?

The invoice must contain at least the following details:

• The invoice date
• The invoice number
• The bol order number belonging to this order
• The date the item was delivered
• Your full (legal) name, address and contact details
• Your Chamber of Commerce number
• The VAT identification number of your business
• The customer's full name and invoice address
• A valid VAT identification number of the customer (only for foreign customers with an intra-community supply of goods)
• The number of items delivered
• A description of each item delivered
• The sale amount excluding VAT
• The VAT rate
• The VAT amount (if applicable: the VAT amount due per VAT rate)
• The total amount including VAT
• A note when there is an intra-community supply of goods

How do you file a VAT return as a seller on bol?

As a business seller on bol, like any other entrepreneur, you file your own tax returns: the VAT return (in most cases quarterly) and income tax. On top of that you keep your bookkeeping in order, such as your balance sheet, your invoices and a profit and loss statement. If you're just getting started with this, we cover the basics in starting to sell on bol.

What is the One Stop Shop (OSS) scheme and when do you use it?

With the One Stop Shop (OSS) you file one VAT return in one EU member state for the VAT you owe in multiple EU countries, instead of registering separately in each country. The scheme has applied since 1 July 2021 and is meant to simplify VAT returns for sales to consumers in other EU countries.

Previously, businesses that sold goods to consumers in other EU member states had to register in each of those countries and file VAT returns there. With the OSS scheme you choose to do that in one EU member state. The main advantage is that it reduces the administrative burden: you save on registering and filing in every individual country, which can save you time and effort.

Thresholds and exceptions do apply. For distance sales to consumers within the EU there's a threshold of 10,000 euros in cross-border revenue. If you stay below it, in many cases you can keep charging Dutch VAT; if you go above it, you apply the local rate and declare it through the OSS. The exact rules and obligations depend on your situation; we go into more depth on this in VAT on bol. It remains wise to seek professional advice, so you meet all requirements.

Summary: what to watch out for

• bol's sales invoice is your monthly overview. All income minus all costs, ready on the first day of the following month under 'Finances', with the details in the invoice specification.
• You send business customers a correct invoice yourself. That's a legal obligation; bol indicates per order whether it's a business account.
• You file your own VAT and income tax returns. VAT usually quarterly, and you keep your bookkeeping in order.
• For sales to EU consumers there's the OSS scheme. One return in one EU country, with thresholds and exceptions that differ per situation.
• In doubt? Seek professional advice. VAT law is complex and differs per country; this blog is informative and not tax advice.