Here’s Surprising BAD NEWS About Tax Changes in Europe That Will Affect YOUR Online Business. Yes, YOURS! Learn What To Do, RIGHT NOW
- Identify all sales channels you’re using for digital products
- Confirm the contractual relationship for each sales channel
- Identify the European jurisdictions in which you make sales
- Confirm your need for VAT registration on a country-by-country basis or assess whether the MOSS scheme is suitable
- Register for VAT in each jurisdiction – or – register for MOSS and set up a reporting and payment system for each jurisdiction.
- Decide whether you’ll offer a single VAT- inclusive price and absorb the different VAT rates as a cost, or offer an individual retail price for each jurisdiction.
- If you sell through online retailers, such as Amazon or Apple iTunes, be ready for price negotiations because they’ll likely want publishers to absorb the increased VAT costs.
- Set up a monitoring system to ensure your VAT obligations are accounted for.