Every year VAT duties for international and global sellers increase drastically, because more and more people choose to buy products from abroad. Consequently, the total gross turnover reaches more than several thousand billion dollars. Therefore, distance selling thresholds becomes of a big importance, as described by www.1stopvat.com team. Let us dig in further.
What is distance selling exactly?
Distance selling can be translated literally word by word. It means that products are purchased not by going to a physical store and face to face, but rather they are bought online via international orders services.
So here comes the VAT. For those who do not know, VAT registration is necessary for two occasions – when you start a business, or you store your goods in Europe. According to www.1stopvat.com specialists, if you are selling from one country to another, VAT registration has to be made when distance selling thresholds reach the limit for distance selling.
Regulations in Europe
It’s not a secret that there are a great number of rules and regulations of distance selling in Europe. Knowing the regulations and guidelines is a must if one doesn’t want to be in danger when in comes to taxation and VAT. If you are doing distance selling, you must apply a list of regulations. For instance, you have to provide pre-purchase information, provide written information after the products were purchased, refund if products haven’t reached the delivery date and more.
There are a lot of rules one needs to know if he or she wants to avoid any problems with VAT and distance selling thresholds claims www.1stopvat.com specialists. For this reason, you should hire professionals in these areas or gather as mums information as possible yourself.