In China, if the turnover of an e-commerce company reaches a certain amount, it needs to pay taxes according to the standard. For sellers who choose to go overseas, they should also abide by local laws and regulations when choosing different sites and target markets. Declaring and paying taxes in accordance with regulations is a necessary process. Specifically, how should cross-border sellers file taxes when opening a store on eBay?
Currently, due to the different cross-border markets involved, the standards and amounts of value-added tax that each country must pay for cross-border e-commerce are also different. However, cross-border sellers need to understand the local policies in advance and make their own purchases. Complete your declaration in advance.
For example, the ebay cross-border e-commerce platform has a relatively popular British site. At present, the ebay platform has sent emails to some sellers to remind sellers who open cross-border stores on the British site to pay VAT tax on time. In order to severely crack down on tax evasion and other illegal activities, the eBay platform has signed a cooperation plan with the British Revenue Service to jointly punish cross-border stores that do not comply with the platform’s rules, declare and pay taxes on time. If you are found to have failed to pay taxes on time, and the circumstances are serious, the account of the cross-border seller may be frozen. It can also be seen from this that all cross-border sellers on the eBay platform in the UK must comply with and fulfill tax obligations when selling products locally. Opening a store on eBay and filing tax returns are also basic skills that all cross-border sellers must master.
Specifically, after opening a store, cross-border sellers should first provide an eBay account with a British VAT tax number, and accurately fill in the corporate or personal name of the VAT number into the eBay account on time. Declaring and paying taxes to HMRC, the UK government. Generally speaking, cross-border sellers can check their VAT numbers on the British VAT certificate or tax website.
Currently, it is the obligation of all stores and sellers to file tax returns when opening a store on the eBay platform. Whether it is the domestic e-commerce market or the overseas cross-border trade market, standardized market management is inseparable from the effective supervision of the tax department. Timely declaration and tax payment are also “compulsory courses” for all cross-border shops and buyers. For cross-border e-commerce sellers, it is important to familiarize yourself with the rules of different cross-border markets as soon as possible, understand local tax policies, and declare and pay taxes on time in accordance with the requirements of the platform and tax authorities.