1Do I have to be a taxpayer to sell online?
Not every business owner selling online has to be registered for VAT. Entrepreneurs may be exempted from registering for VAT based on sales threshold or sales character. An annual income not exceeding a certain rate does not call for VAT registration either. However, it is important to remember, that exceeding any of those thresholds automatically call for VAT registration. Thresholds differ from country to country, hence it is essential to become familiar with local regulations in order to avoid penalties. When sales character is concerned, every country has their goods and services catalog, which details items that can be sold tax free regardless sales threshold.
2What am I obliged to and what documents do I need to file after registering for VAT?
Statutory declarations which are subject to tax are all transactions that took place and have to be reported for VAT tax payment or refund. It is important to remember, that if you are a business owner registered for VAT, you are obliged to file periodic VAT declarations. Every EU country has their own deadlines and frequency of filing VAT declarations; usually monthly or quarterly.
Take advantage of our expert knowledge and entrust us with filing your VAT declarations, EC Sales Lists (ECSL) – in case you are involved in movement of goods within EU (B2B transactions), Intrastat reports, and Standard Audit File for Tax.