OSS scheme and I-CASH

Do you have an online store? Do you sell goods or services to end customers in EU countries? Then you most likely use the special VAT scheme, OSS (One Stop Shop)!

In today's article, we will explore the advantages of these transactions after synchronizing your online store with I-CASH.

This lets you simplify and automate the process of:

Charging VAT according to the end customer's delivery country

Creating customized documents in a foreign language

Preparing a quarterly electronic 'OSS scheme' report

Centralized management of multiple online stores

1. Automatic tax rate selection

When selling to an end customer in an EU country, you must apply that country's VAT rate. I-CASH does this automatically, determining the correct rate from the country in the customer's delivery address.

For companies registered for VAT in other EU Member States, a 0% tax rate is applied automatically.

2. Sending customized documents in a foreign language

With I-CASH, you can prepare customized documents in a foreign language to send with every purchase. Tax documents such as an electronic fiscal receipt from the cash register and an invoice are also generated, of course.

3. Quarterly report „OSS scheme“

When conducting online trade in the European Union under the OSS scheme, you must submit an electronic quarterly VAT return through the OSS portal of the Member State where you are registered.

In I-CASH, you can find an “OSS scheme” report with detailed information about your distance sales, broken down by country and product type (goods or services). This organized information makes it easier for you and your accountants to complete the quarterly return and pay the required VAT.

The “OSS scheme” report can be found under “Reports” –> 'Other'–> OSS report by country. Available only when OSS functionality is enabled.

4. Generating an electronic fiscal receipt

We have mentioned electronic fiscal receipts many times. By synchronizing I-CASH with a cash register programmed for e-commerce and your online store, you can issue legally compliant fiscal receipts regardless of your customer's location: Sofia, Paris or Milan.

A fiscal device in the Republic of Bulgaria has 4 tax groups: A (0%), B (20%), V, G (9%). According to NRA guidance, sales under the OSS scheme should be recorded in tax group A with the VAT charged and the taxable amount. The electronic fiscal receipt states “Under invoice number” and “Invoice date”.

5. Ability to issue documents under the “Simplified scheme”

If you sell exclusively via card and postal money order (PMO), you can issue sales registration documents meeting the requirements of Article 52o of Ordinance N-18, known as the simplified regime, and generate a standardized XML audit file at the end of the month instead of an electronic fiscal receipt.

Please note that if you sell abroad where postal money orders are unavailable, you cannot use this scheme unless you accept only card payments. This means that if you accept any form of payment on site, this simplified scheme does not apply to you and you must record your sales with an electronic fiscal receipt.

6. Connect multiple online stores
If you are a retailer with a separate online store for each country you sell in, I-CASH is the ideal solution for centralizing your inventory, operations and documents. What are the advantages:
What are the benefits:

You can connect a single cash register for operations across all your online stores;

You will always know the stock quantity of every item in your warehouse in real time;

Track which online store generates the most sales and profit;

All your tax and business documents will be in one place;

Discover the benefits of I-CASH! If you have not registered yet, enjoy a completely free month and free initial training.
Synchronize your online store, track inventory, sell in Bulgaria and abroad, and monitor analytics, reports and profits! Register here. For questions, contact us on (+359) 2 960 7123!