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Tax question regarding online businesses

Discussion in 'Legal Issues' started by ztorjeki, Sep 3, 2019.

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  1. #1
    When do you require to pay taxes after your online business earnings and which countries are affected? I have always wondered about this question. None of the so called gurus mentioning in any of their money making methods.
     
    ztorjeki, Sep 3, 2019 IP
  2. jrbiz

    jrbiz Acclaimed Member

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    #2
    This question can have hundreds of different answers, I suspect, depending upon which country or countries that your business is based in. From a practical perspective, you need to first worry about the country your business is located in. This is because the country that you are located in is one in which the taxing authorities can exert their authority over you, your company, your bank accounts, etc. Find out how your country expects you to collect taxes for your sales and go from there.
     
    jrbiz, Sep 10, 2019 IP
    Andrii Ozemko and sarahk like this.
  3. ztorjeki

    ztorjeki Greenhorn

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    #3
    Thank you for your answer jrbiz. It obviously makes sense.
     
    ztorjeki, Sep 10, 2019 IP
  4. spazzumes

    spazzumes Peon

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    #4
    As mentioned before, it depends where you live.

    Pretty sure you are expected to pay Taxes on all your profits big or small (if you are a business). If you are an individual selling stuff, I think if you are making less than 10k/yr in revenue you can avoid most taxes.
     
    spazzumes, Nov 18, 2019 IP
  5. Andrii Ozemko

    Andrii Ozemko Member

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    #5
    To sale my product I have signed an agreement with 2Checkout. This service knows about taxes in different countries and pay it when someone buy my application. I just need to visit my local tax office and pay them. For more details you can visit https://www.2checkout.com/
     
    Andrii Ozemko, Nov 18, 2019 IP