VATabout

💡 Key Insights: • Digital services (like content, courses, or subscriptions) sold by influencers and creators are subject to VAT/GST in many jurisdictions. • Countries like Australia, the EU, Canada, and South Africa require foreign sellers (including individuals) to register once they reach a revenue threshold. • Platforms like Patreon or OnlyFans don’t always handle VAT for you - meaning creators are responsible for compliance. • The rules vary widely by country: some offer thresholds and exemptions, others don’t. 🌍 For digital nomads and creators with a global audience, VAT is no longer a “big company” issue - it’s a personal tax risk. 📢 Are you an online creator navigating international tax rules? What challenges have you faced? 🔗 Read more: https://lnkd.in/dKYji9kZ #VAT #GST #DigitalServicesTax #CreatorsEconomy #InfluencerMarketing #IndirectTax #OnlineBusiness #TaxCompliance #GlobalBusiness

💡 Key Insights: • Subsidies linked to taxable activities are subject to VAT: For example, if a business receives subsidies for the purchase of equipment used in its taxable supply of goods or services, VAT may be applicable on these payments. • Non-taxable subsidies remain VAT-exempt: If a subsidy is provided for the purpose of supporting general business operations without any connection to specific taxable activities, it may be exempt from VAT. • Compliance risks: If businesses incorrectly treat subsidies as VAT-exempt when they should be taxed, they could face penalties or miss out on reclaiming VAT on related purchases. 📢 Why it matters: Businesses receiving subsidies must carefully review the terms and conditions to determine whether VAT should be charged, as misclassification could lead to compliance issues. 🔗 Read more: https://lnkd.in/d3ZkpMek #VAT #ECJ #Subsidies #TaxCompliance #IndirectTax #VATCompliance #EuropeanUnion #GlobalBusiness

🎧 Do You Prefer to Read or Listen? 📖 We know your time is valuable — whether you're commuting, multitasking, or just prefer a hands-free update, we’ve got you covered. 💡 Starting now, all our latest Insight Reviews will come with an audio version so you can stay informed on the go! 👇 Cast your vote and let us know what works best for you. And yes — this is just the beginning of making our updates even more accessible. #VAT #TaxTech #Productivity #AudioInsights #Vatabout #FutureOfWork

👀 Just saw this on Vinted.com: "Sell electronics with no fees" — sounds like a great deal, right? Well, yes… but only partially. While Vinted is waiving its platform fees on electronics (which is a nice move), there’s something many people might overlook - especially if they sell regularly. 📌 Tax obligations under DAC7. Under the EU’s DAC7 directive, platforms like Vinted are now required to report seller activity to tax authorities if certain thresholds are met (like 30+ transactions or €2,000+ per year). This means: ✅ No platform fees ❌ Doesn’t mean you’re off the tax radar If you frequently sell electronics, flip items for profit, or use Vinted as a side hustle - you might be seen as a professional seller and could face income tax or VAT obligations. 💡 Bottom line: Before clicking “Start earning,” make sure you understand your tax responsibilities. Platforms may be free, but compliance isn’t. 📚 I highly recommend this deep dive from VATabout: 👉 https://lnkd.in/d92wr2b6 #DAC7 #Vinted #VAT #PlatformEconomy #TaxCompliance #SideHustle #Ecommerce #vatabout

April's Tax Event Calendar is Here – Don’t Miss Out on the Latest Webinars! https://lnkd.in/dYiZHfvh

Stay Compliant with Illinois Sales & Use Tax: A Must-Know Guide for Retailers & E-Commerce Businesses Are you a retailer or e-commerce business selling in Illinois? Here's what you need to know about the state's sales and use tax laws: • Sales Tax Rate: 6.25% state rate + local taxes (Chicago’s soft drink tax, anyone?). • Use Tax: Imposed when goods bought outside Illinois are used in the state. • Economic Nexus: Out-of-state sellers with $100K+ sales or 200+ transactions to Illinois must comply. • Marketplace Rules: Marketplaces facilitating sales must handle tax collection for sellers. For a deep dive into exemptions, nexus rules, and how to navigate digital goods taxes, check out our full guide! 🔗 Read the Full Guide https://lnkd.in/gjzxWngf 💬 How does your business manage sales tax across multiple states? #SalesTax #Ecommerce #IllinoisTax #RetailTax #Nexus #TaxCompliance #VAT #IndirectTax

💡 Key Insights: • Global Tax Frameworks: Countries are continually adapting their tax regulations to address the unique challenges posed by digital business models, aiming to monitor transactions effectively and ensure proper VAT and GST compliance. • Canada's GST/HST Requirements: In Canada, ride-sharing drivers must register for, collect, and remit GST/HST from their first ride, regardless of whether they exceed the CAD 30,000 threshold. • Ireland's VAT Rules: Passenger transport services, including taxi rides, are VAT-exempt in Ireland. However, services provided by platforms like Uber to drivers are subject to VAT, requiring drivers to register and account for VAT on these services. • New Zealand's GST Changes: New Zealand has proposed GST changes affecting online marketplaces, ride-sharing, food delivery, and short-term accommodation rentals, including new compliance rules and deduction regulations. 📢 What’s your take on this? Let us know in the comments! 🔗 Read more: https://lnkd.in/dqTdHHyA #GigEconomy #VAT #GST #TaxCompliance #RideSharing #DigitalPlatforms

💡 Key Insights: • Active Investigations: The EPPO is handling 2,666 active investigations, with estimated damages exceeding €24.8 billion. VAT fraud alone accounts for more than 53% (€13.15 billion) of this total. • Cross-Border Dimensions: 29% of investigations have a cross-border dimension, underlining the complexity of international fraud. • Organized Crime: The EPPO is uncovering significant criminal networks, often involving multiple crimes, including VAT fraud, money laundering, and customs fraud. These networks have expanded into financial crimes, such as VAT fraud. • NextGenerationEU Fraud: 311 active cases are related to the EU’s Recovery and Resilience Facility, with estimated damages of €2.8 billion, which is 30% of total damage from expenditure fraud. • Freezing Orders: The EPPO secured €2.42 billion in freezing orders and €849 million in assets frozen, reflecting their ongoing commitment to tackle large-scale fraud. 🔗 Read more: https://lnkd.in/dbKFBUbZ #VAT #SalesTax #GST #TaxCompliance #IndirectTax #EU #CrossBorderTrade #VATFraud

🎲Casino de Spa SA: A Key Case on VAT Exemption for Online Gambling Services 🎲 A pivotal legal battle is underway, challenging Belgium’s approach to VAT exemptions for online gambling. The Court of Justice of the European Union (ECJ) is deliberating whether Belgium's differing VAT treatment for online gambling and traditional gambling services violates EU fiscal neutrality principles. Key facts: • Belgium revoked VAT exemption for online gambling in 2016, but the Constitutional Court later annulled this decision. • Gaming Ardent, a VAT group in the gambling sector, is seeking a refund for VAT paid between 2016-2018. • The case questions the VAT disparity between online and traditional gambling services. This ruling could redefine VAT obligations in the gambling industry, particularly for online operators. For more insights, read the full article on how this case could affect your business. https://lnkd.in/dNQmeP5N What do you think about VAT treatment for online gambling? Share your thoughts below! #VAT #TaxExemption #OnlineGambling #FiscalNeutrality #ECJ #TaxCompliance #GamblingIndustry

💡 Key Insights: -The new "investment account" allows residents to reinvest earnings without triggering taxes. -Taxes are only due when funds are withdrawn, and only the profits are taxed, not the original deposits. -This exemption applies to various investment products like securities, government bonds, and crowdfunding platforms. -Accounts must be declared to tax authorities and can be opened in countries with a tax agreement with Lithuania. 📢 How do you think this change will impact Lithuanian investors? Share your thoughts in the comments! 🔗 Read more: https://lnkd.in/dMTFt57t #VAT #TaxExemption #InvestmentAccount #Lithuania #TaxCompliance #IndirectTax #GlobalBusiness