Tax consulting for distance selling (online shop, e-commerce)
Tax consulting for distance selling: constantly updated tax law for a fast-paced sector
Things must move quickly in online distance selling. The buyer wants the ordered goods as fast as possible. The distance sellers want their money as quickly as possible and have to stock the goods or must be in a position to rapidly procure them. Thus, tax issues and commercial considerations quickly fall by the wayside. Being informed in detail, is clearly an advantage now.
An expert opinion on VAT by Benefitax helps in avoiding expensive mistakes. We know whether invoices must be issued with or without the VAT and also provide you details on the invoice requirements.
We identify whether you need to register yourself abroad for VAT purposes. Upon request, we also find good local VAT experts for you and/or coordinate the work of various certified tax advisors in different countries. This way, you can avoid double declaration of the same data or accidentally not declaring revenue to the responsible local tax authorities (attention: tax evasion).
If you are involved in EU intra-community trade, you may be legally obliged to provide information on your incoming and outgoing goods to the Federal Statistical Office on a monthly basis. We prepare these Intrastat reports for you. The threshold for Intrastat notifications in case of incoming goods is currently at 800,000 Euros and for outgoing shipments at 500,000 Euros.
The ATLAS IT System (Automated Customs Tariff and Local Customs Handling System) ensures largely automated handling and monitoring of cross-border trade. It handles import to and export from third countries. An electronic summary of incoming and outgoing shipments must be provided for goods which are brought into or leave the European Union. Upon request we can find a customs expert for you and coordinate their work with our work. Alternatively, your logistics partner can do it too.
If you want to indentify profit / loss generating products, cost accounting is required. Regular cross-checking of the cost accounting with the financial accounting or the annual financial statements is necessary. Otherwise, it may be the case that you end up making less money with a product than you think. Even good controller can make mistakes and need a good professional sparring partner such as a chartered accountant every now and then. We from Benefitax will gladly assume this responsibility.
Our various services for distance selling are given below:
Monitoring the delivery threshold for local VAT liability of the individual countries of destination
Expert opinions on VAT. Overview of VAT-related handling of various supplies and services within Germany and abroad and rendered to companies as well as to private customers
Use bank assistant software. With using this software, we can import your banking transactions online and automatically record these in the bookkeeping. One of our skilled employees will review these. You get get a dual advantage as our services are less expensive and we no longer need the hard copies of bank account statements.
Avoiding cost-intensive double entries by the client and the certified tax advisor (e.g. by importing CSV files)
Help in selecting tax advisors in the respective countries of destination
Retain your documents as hard copies thanks to DATEV Unternehmen-online software. We receive the receipts in digital form and link these with the accounting records. You have full reading-access and stay on top of things.
Cross-sectoral comparison. We provide you assessments with average figures of your competitors.
Tax Consulting Company, Public Audit Company
Hanauer Landstr. 148a
60314 Frankfurt am Main