Online sales of boutique goods

Online sales of boutique goods

 

 

Question:

Hello,

I have a registered EOOD for several months, so far I have no activity, I only pay for company internet, I have no employees and office. I want to start buying products from Chinese manufacturers specially made for my company. Initially I will sell online - Facebook, Olx, etc., as well as directly to physical stores, beauty salons, then I will create my own online store. My question is should the company be VAT registered? What documents should I require from manufacturers when purchasing products? Do I Have a Cash Register? Do I have a company account with a bank, should I always pay with it? Do I have to provide cash vouchers?

Thank you very much.

 

Answer:

Hello,

If you are going to sell through Facebook and it is assumed that you will advertise through them or Google or in general - you will receive services from EU-registered companies and companies, you must have a VAT registration. This registration is based on Article 97a of the VAT Act, which obliges you to self-assess and pay 20% VAT on the value of the services received to all received services from EU companies.

If you want to be entitled to a tax credit for the VAT charged (to deduct it from the amount due), then your registration must be on a general basis. You will then be entitled to deduct as a tax credit and VAT paid on customs duties on imports of goods from China. Manufacturers are required to request an invoice for the goods purchased (not in Chinese - preferably in English) and you must also obtain a copy of the shipping documents.

You must issue cash receipts for all cash received. If you receive cash on hand via courier companies licensed by the BNB for cash operators, you do not need to issue cash notes for this money, because in this case it is assumed that the payment was made by bank transfer.

We hope we have been helpful.

Greetings!