Hi . I opened my account in August 2022 at Amazon. Does this mean that until August 2023 I don’t have to exceed 85k in sales to pay VAT? Or is a year from January to December? thanks
The VAT (Value Added Tax) threshold is typically based on a rolling 12-month period starting from the date you registered for VAT. So, if you opened your account in August 2022, the rolling 12-month period would start from that date.
This means that until August 2023, you don’t have to exceed the VAT threshold for sales. However, please note that VAT regulations may vary depending on your country and specific circumstances. It’s always advisable to consult with a tax professional or local tax authority to ensure accurate and up-to-date information regarding VAT requirements and thresholds.
If you have any further questions or concerns regarding VAT, it’s recommended to seek guidance from a qualified tax professional or consult your local tax authority for specific advice based on your situation.
I hope this clarifies the timeframe for VAT threshold calculations.
you don’t need to pay VAT. if you cross 85k threshold than you pay VAT. Don’t worry
Thank you all for your replies