tax information
Hey, do you happen to know how we pay tax when selling on eBay? I thought VAT was deducted from each item sold. But I got a request to complete tax information. What does that involve? Will I have to pay tax again? Thanks for any answers!
3 comments
guangxi_hone
·2 years agoVAT is added, not deducted, to every item. The buyer pays. Your contribution is income tax when you exceed a certain level.
eBay will inform the tax office if that happens.
polishmagazines7
OP2 years agobut VAT is shown in total fees for item, which are deducted from the total order.
guangxi_hone
·2 years agoThat's right, it is subtracted, but if you study the columns, you'll find where it is added.
Apparently, if I'm not mistaken, you can see it in the transaction details where, at the bottom, after the added and subtracted items, they show your net profit.