As early as December 13, 2024, the new GPSR (General Product Safety Regulation) will take effect, replacing the existing General Product Safety Directive. For e-commerce companies selling on European markets, this is a significant change that requires attention and appropriate action.
What is the GPSR Regulation?
The GPSR Regulation aims to introduce stricter rules for the safety of products sold in the EU, especially those offered online. It introduces new obligations for sellers, distributors and e-commerce platforms that address aspects such as:
- Product traceability: every product sold in the EU must have clear information about the manufacturer, importer and possible responsible parties.
- Responsibility for safety: online retailers will have to be sure that the products they offer meet safety requirements even if they do not manufacture them.
- Faster responses to risks: e-commerce platforms will be required to promptly recall unsafe products and report such cases to regulators.
What does this mean for your e-commerce business?
If you run an online store, the new regulations mean you’ll have to adhere to updated regulations. In practice, you may face challenges related to:
- Verifying suppliers and products – making sure goods meet GPSR requires building robust control procedures.
- Adjusting accounting and VAT processes – changes in supply chain or product traceability can affect your tax obligations in Europe.
- New operating costs – having to recall products or comply with local regulations can increase your costs.
Would you like more information?
How can EFF help you?
As a company specializing in VAT accounting across the EU, we understand that legislative changes such as GPSR can raise many questions. With our experience, our team provides tailored guidance that includes:
- Analysis of your business in terms of new legal and tax obligations.
- Advice on how to reduce tax risks arising from changes in the supply chain.
- Automating your accounting processes so that you can concentrate on business expansion while simplifying compliance.
The GPSR regulation is the next step in building a safer EU marketplace, which at the same time poses new challenges for e-commerce. The sooner you take action, the better prepared you will be for the changes ahead. Connect with EFF to make sure your business is in compliance with the new regulations and avoid unnecessary complications.
