"Built to Scale" eCommerce Show Episode 7

Alex Wyatt - Everything eCommerce Business Needs to Know About VAT Taxes & Expansion to Europe

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Today we will be interviewing - Alex Wyatt.

Alex is the Global Project Manager of SimplyVAT, a company that is on a mission to help eCommerce businesses reach global markets by making VAT compliance simple.

Going globally definitely has some benefits, like reducing dependence on one market and the ability to scale a business way higher and further. It can definitely skyrocket your business growth and revenue. However, it comes with additional responsibilities that are usually not so easy to navigate, like legal responsibilities and taxes.

In this episode, we will dive into the topic of how to expand your eCommerce business internationally while making sure you are compliant with all the local tax nuances. Stay tuned, and enjoy!

Timeline & What You're Going to Learn:

[01:26] Overview of the Value Added Tax (VAT) system in Europe.
03:14] Why UK is a good starting point for US sellers looking to expand into Europe?
05:10] What is a Low-Value Consignment Relief (LVCR) and when a product can be exempted from extra import VAT.
07:15] The disadvantages of making your customer the importer of record.
08:21] Diving into the specifics of distance selling.
12:01] Types of products that you can sell to UK customers with zero percent VAT.
13:48] Differences between the tax system in North America and Europe.
15:22] How does Value Added Tax refund works?
18:34] Changes you can expect in the EU VAT system after the BREXIT.
[23:06] Navigating EU expansion after BREXIT: two different supply chains to cover the UK and EU-based countries.
24:39] Tax payment deferments for non-local VAT registered businesses in some of the EU countries.
25:03] What EU countries have temporarily lowered their VAT rates in light of the COVID-19 crisis, and why now can be a perfect time for EU expansion?
27:11] What SimplyVAT.com offers and where to reach them.

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