A good example of international tax is VAT.
A lot of businesses either buy services or goods from foreign countries or sell in different countries as well.
The type of goods or services you sell changes the effect on the VAT rate and what the VAT treatment should be.
The country of the purchaser may also impact on whether VAT should be charged are not.
“As an owner / manager business we needed an accountant/tax adviser that can come to us at a time and place that fits in with our busy schedule. WAGNER Associates provides that service, ensuring quick, no fuss tax and accounting support”.
Graham ChristieMD, GDC Design Limited
For both sales and purchases, though it’s critically important that you know, or have access to an individual or an accountant or a tax expert that can guide you through the maze of compliance rules relating to the rates that you should apply to transactions.
Also there’s an ability to claim back foreign VAT you have incurred which you as an ordinary individual may not understand you can claim it back.
When it comes to international taxation there are many countries, many trading zones and many taxes and that’s why you need a good accountant to guide you and your business through what taxes affect you and how to make sure you’re not being too much tax.