How do you deal with worldwide VAT taxes?
How do you guys deal with worldwide VAT tax? I'm not making much money on Qvault (~1k MRR) but I've got like 6 alerts in Stripe that I owe like 6 dollars in tax in 6 different countries.
Is there a simple way to deal with this? A service you use?
Hi @wagslane.
I was researching this a few months ago, and recall that Stripe should be handling this for you: https://stripe.com/en-gb-no/tax
The other solution I found was this one:
https://vatstack.com/articles/automated-vat-calculations-with-stripe
Have not deployed these as yet, but it is worth exploring.
In trouble with stripe is all they do is collect and calculate. They don't file, and filing in 10+ countries for 5 dollars each is the nightmare
Ok. Stripe should be helping with preparing the filing documentation, calculating and collecting automatically (EU, US, Australia, New Zealand, ...) . So that gets you most of the way. Wish to clarify with you, how complicated & time-consuming is the filing part?
Given what you have just mentioned, I am thinking that it might be best to focus on countries for which the filing process is simple (initially), before heading to markets where it might be more complex.
Might be worth looking into Paddle, they handle world wide taxes for a 5% cut.
I'll take a peek, thanks