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by codehawke
1832 days ago
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It's quite obvious both PayPal and Stripe need to account for these terribly burdensome tax laws going into effect next month. The thresholds for most companies (UK excluded) was previously enough for most international sellers to not have to worry about filing for a VAT in multiple foreign countries. However, now they are making it even more burdensome by removing these thresholds entirely. No USA businesses selling small amounts of good are going to deal with that burden. If PayPal and Stripe can't deliver, that VAT ain't being paid by the majority of online shops. This is a case of them trying to go after the big guys and screwing the small. Good job on Stripe. PayPal needs to do the same. https://www.avalara.com/vatlive/en/vat-news/eu-2021-one-stop... |
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Regardless of sales volume, such businesses were not obliged to file VAT in EU before and will not be after the changes either - they will now be able to file IOSS VAT returns if they wish, though.
The annual thresholds the linked article talks about are all concerning intra-EU cross-border sales, not imports.