Global Tax Compliance: The Necessary Low-Down

eCom Insights: E-commerce and Marketplace Trends

In this episode, Tommy Henbest, business development and partnership manager at Taxually, joins the hosts to discuss tax and compliance in the e-commerce industry. Tommy shares his journey in e-commerce and explains the importance of tax and VAT compliance. He provides insights into the differences between VAT and tax, the need for due diligence before launching in new regions, and the role of Amazon in assisting with VAT services. Tommy also discusses the impact of Brexit on tax and VAT regulations and offers advice for sellers entering the EU market. He highlights the opportunities in the EU market and touches on current regulations, such as the Extended Producer Responsibility (EPR) program, which requires sellers to take responsibility for the disposal of their products. In this conversation, Tommy Henbest from Taxually discusses various aspects of VAT and tax for e-commerce sellers. They cover topics such as the plastic packaging tax, reclaiming VAT in Europe, and best practices for VAT registration. They also touch on international tax considerations, including Australia, the US, Canada, Brazil, and Mexico.

Takeaways

• Due diligence is crucial before launching in new regions to ensure compliance with tax and VAT regulations.
• Amazon offers VAT services, but it may be necessary to seek independent advice for specific situations.
• Entering the EU market provides opportunities for sellers, and being VAT registered is essential.
• Brexit has introduced changes in tax and VAT regulations between the UK and the EU.
• The Extended Producer Responsibility (EPR) program requires sellers to take responsibility for the disposal of their products. Reducing packaging can help reduce FBA costs and potentially avoid the plastic packaging tax.
• Businesses should be aware of the opportunity to reclaim VAT in Europe and take advantage of it.
• Proper VAT registration and compliance are crucial to avoid fines and legal issues.
• When expanding internationally, sellers should consider the local tax laws and thresholds in each country.
• Working with experts in VAT and tax can help simplify the process and ensure compliance.

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Matt Anderson LinkedIn: https://www.linkedin.com/in/mattandersonoptimized/
Rael Cline LinkedIn: https://www.linkedin.com/in/raelcline/