@corvettestainless wrote:Tax invoice means 'Income Tax' - they assume you will use for Income Tax deduction... (translation breakdown- remember, Adyen is from another country).
Has NOTHING to do with SALES TAX.
IF you look closely at it, it is nothing but ALL THE FEES you are paying, Final Value, Listing Etc. Everything 'except' the 'Monthly Store Fee'.
@corvettestainless - this is definitely about sales tax, not income tax - though the total fees listed on this report could certainly be helpful come income tax time too.
It also has nothing to do with Adyen being in a different country.
Here's the info from eBay's help page
This report is specifically about applicable taxes which may be assessed on fees paid. This already happens to eBay sellers in the UK and other places where digital services are considered taxable and to Amazon sellers in some states as well, as referenced in my post above.
From eBay UK help page:
My bet is eBay is possibly preparing to start charging tax on fees for some US sellers as well, where it may be required, and/or they are just updating the reporting for Managed Payments to be more uniform as they roll it out to more sellers in other countries where this may be applicable.
@styrenelad wrote:I think I figured it out. Ebay used to send an invoice for all fees. Now with the managed payments, they deduct the Final Value Fees from each sale before the money is added to our Available Funds. So I am no longer paying those fees in my monthly invoice. You may see your monthly invoice is lower than normal, because it no longer includes Final Value Fees. Just the store subscription and maybe some insertion fees and return shipping costs. But the Final Value Fees are still a cost of doing business. So the Tax Invoice is a record of the Final Value Fees and maybe a few other Fees they took out before sending us the money to our Available Funds. No longer a part of the monthly invoice, but still an expense to declare for tax purposes.
Does that make sense?
The Tax Invoice is not primarily meant to be used for income taxes, though some of the information on it may be helpful for that.
The Tax Invoice is just a record of fees deducted from your Managed Payments balance and any tax you may have been assessed on those fees if you live somewhere that considers digital services taxable.
More info here:
