This video helps you to clear some of your confusion regarding taxes where you're making sale.
In this video, we have discussed about the taxes in US, CAD and UK.
We deal with the sales tax in the United States (US), and differs state-to-state. But, the good point is Amazon collect the taxes from the purchases itself and remit to the state. Where, Amazon do not collect, we have to collect manually via seller central under Settings - Tax Information and update the % of your selected states through which Amazon will automate handling the taxes or we can link with the 'Tax Jar' with our seller central. It has already explained in the video.
But, when we talk about Canada (CAD), we pay as Goods and Services (GST) i.e. 5% and there we have to pay Provincial Sales Tax (PST) and it varies state-to-state as mentioned. But, when we combine GST & PST together, then it becomes Harmonized Sales Tax Rate (HST) and liable to pay to the Canadian authorities.
In the United Kingdom (UK) market, the tax rate is defined as Value Added Tax (VAT) and normally it's 20%. We have discussed both the VAT schemes in the video and shown an example that how we can calculate our payable VAT, explained Input and Output VAT and how much you can claim back from your Input VAT.
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To Start your eCommerce Journey with Enablers:
www.enablers.org/group
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Enablers Upcoming Seminars:
www.enablers.org/seminars
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Ask Saqib Azhar:
www.saqibazhar.net
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Enablers Mission is to use the Enablers Platform to create 2 Million jobs and 200k eCommerce Businesses in Pakistan and get Pakistan to be recognized by the world as an eCommerce Hub.
Saqib Azhar believes unemployment is one of the biggest issues in Pakistan, and he has taken it upon himself to solve this issue to as much extent as he can. For this, Enablers has introduced Enabling Video Series (EVS) having all those training programs and courses which will help people to do eCommerce businesses in International markets by offering training to those who cannot afford and they can apply from here: www.enablers.org/evs
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