German VAT (Umsatzsteuer), or Value Added Tax, is a system of indirect taxation. In this #vat tutorial, I interviewed a VAT specialist (Dimitar Yordanov) who explains how VAT works. He explained the difference between VAT and income tax. And also explained how you can get penalized if you dont file or pay your VAt on time.


VAT is used in around 140 countries in the world. These are the basics of a VAT system:
VAT is a system of indirect taxation on the sale of goods and services to final consumers, in other words VAT is a tax on consumption.
VAT is collected in stages through what is called “the chain of supply”. Dimitar does a very good explanation in the video.
VAT registered businesses in Germany charge VAT on their sales (this is called output tax) and recover VAT on their purchases and expenses (this is called input tax), and settle the difference with country tax authorities. VAT is not a cost to businesses themselves, they collect and pay it “on behalf of the government”. Amazon Germany requires that you must be VAT registered to sell on Amazon Germany.

VAT rates and rules are subject to change, so check with your local country tax authorities or tax advisor for any exceptions to the rule.

The European Union is very well known for having a well-functioning VAT system. Please be aware that although many VAT related legislation is largely standardized across the EU member states, the standard rates differ widely, and what goes into the standard versus the reduced rate category can also differ from country to country.

Self employed people are legally obliged to declare their previous year's income so that the tax office (Finanzamt) will be able to calculate the income tax they have to pay. They are legally obliged to submit an income tax return.

If you are interested in my one on one mentorship, please
Email me at crinyamah@gmail.com and ask for details.
Email Dimitar : info@taxmetoday.com

Website that can help you sign up for VAT and Tax id number for FREE!!
[ Ссылка ]
Accountable: [ Ссылка ]

Banks for Amazon Germany
Wise Bank [ Ссылка ]
Revolut [ Ссылка ]
Payoneer : [ Ссылка ]
N26: [ Ссылка ]



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