Introduction.
Cross-border e-commerce (E-commerce) has been expanding worldwide with Amazon, eBay, Rakuten, Shopify, WooCommerce, and Corona Vortex, and is now the focus of attention by all companies. Cross-border e-commerce has been introduced with the positive aspects of being able to start selling within minutes of creating a site, and new sales opportunities from markets around the world. On the other hand, local taxes and various other costs are not shared much: local taxes such as VAT are levied and collected by the seller on the local buyer, but even in the case of cross-border e-commerce, there are cases of taxation, collection, and reporting.
Not all tax accountants, lawyers, and other domestic professionals have knowledge of overseas tax and legal affairs.
IN THIS COLUMN, OPTI CORPORATION, WHICH HAS EXTENSIVE EXPERIENCE IN THE TAX ASPECTS OF CROSS-BORDER EC, PROVIDES A "CROSS-BORDER EC TAX NAVIGATOR" IN A Q&A FORMAT. WE HOPE THAT THIS CROSS-BORDER EC TAX NAVIGATOR WILL BE OF HELP TO VARIOUS COMPANIES CONSIDERING CROSS-BORDER EC.
Q] PLEASE TELL ME ABOUT THE PRELIMINARY ANALYSIS OF VAT REFUND AMOUNTS USING EXCEL DATA.
A]
BY RECEIVING EXCEL OR CSV DATA FROM OUR CLIENTS, WE CAN RESEARCH THE AMOUNT OF VAT REFUND IN ADVANCE AND SUBMIT IT TO OUR CLIENTS.
ON THE CUSTOMER'S SIDE, THERE ARE VARIOUS ADVANTAGES SINCE THE VAT REFUND AMOUNT IS KNOWN IN ADVANCE.
EXCEL DATA OR CSV DATA IS REQUIRED FOR DATA-BASED VAT REFUND ANALYSIS. THE CSV DATA MUST MEET THE FOLLOWING SIX CRITERIA
The above will be explained one by one.
What month and date the invoice is dated is an item we need to check when analyzing the data. For example, the date of the hotel stay or the date of the cab ride.
As for the name of your company's country, it is generally considered to be "Japan".
The supplier's country name will be the country in which the so-called expense was used, such as Germany, France, or the United Kingdom. For example, if you stay at a hotel in France, the supplier's country would be "France".
IN THE CASE OF BUSINESS TRAVEL EXPENSES (T&E), THE EXPENSES MAY INCLUDE HOTEL, CAB, BUS, PARKING, RESTAURANT, ETC. IN THE CASE OF INVOICES FROM SUPPLIERS, THE EXPENSES MAY INCLUDE R&D, PURCHASE OF GOODS, TESTING, ETC. IN THE CASE OF INVOICES FROM SUPPLIERS, WE EXPECT VARIOUS TYPES OF EXPENSES SUCH AS RESEARCH AND DEVELOPMENT EXPENSES, PURCHASE OF GOODS, TESTING, ETC. WE WILL ASK YOU TO DESCRIBE THESE TYPES OF EXPENSES. PLEASE LIST THESE TYPES OF EXPENSES.
Please indicate the currency, e.g. Won in Korea, Pound in UK, Euro in Germany, etc.
As it is related to the above currency, you may combine the currency with the total amount, such as "200Euro" for information to us.
This service is basically free of charge.
However, we would like to ask you to consider travel expenses as eligible expenses (hotel, restaurant, taxi, bus, etc.). (hotel, restaurant, cab, bus, etc.)
WE RECOMMEND THAT A PRELIMINARY DATA ANALYSIS BE PERFORMED FOR VAT REFUNDS. IT USUALLY TAKES ABOUT 3 DAYS FOR A VAT REFUND. PLEASE CONTACT US FOR MORE INFORMATION.
Disclaimer
This column contains general information only and is intended to be used at the reader's own risk. While every effort is made to improve the accuracy of the information, it may contain inaccuracies. Readers should consult a suitably qualified professional before making any decision or taking any action and assume the entire risk and responsibility for any loss arising from the use of this column.
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