VAT Information – One Stop Shop (OSS)

What is OSS?

The One Stop Shop (OSS) is a simplified VAT reporting system introduced by the European Union for businesses that sell digital services to consumers (non-taxable persons) in other EU member states. Instead of registering for VAT in each country where customers are based, a company can report and pay VAT centrally through the OSS in its home country.

How does this apply to LoungeForFans?

LoungeForFans, operated by Creative Entertainment SRL, is registered under the OSS scheme in Romania. This means that for all purchases made by users within the European Union, we:

• • Calculate the applicable VAT rate based on the buyer's country of residence.
  • Include VAT in the displayed prices on our platform.
  • Collect and remit the VAT to the relevant EU tax authorities through the Romanian OSS portal.

What does this mean for users?

• As a buyer, you don't need to take any action. The VAT is already included in the price you pay.
• As a creator, you receive your earnings net of VAT and platform fees. You are not responsible for VAT reporting related to sales on our platform.

Why is this important?

• Ensures full compliance with EU digital service VAT rules.
• Simplifies the experience for both buyers and creators.
• Maintains transparency and trust in our financial and legal practices.

Need more information?

If you have questions related to VAT or OSS, please contact us at taxes@loungeforfans.com.

Note for Content Creators:

While LoungeForFans handles VAT collection and reporting for customer transactions under the OSS scheme, creators are independently responsible for reporting their income and paying any applicable taxes in their country of residence. This page does not constitute tax advice. Please consult a local tax advisor for guidance.