Can I calculate the value added tax for my online shop myself?
August 15, 2022 | 40,00 EUR | answered by Friedhelm Sauer
Dear tax consultant,
I operate an online shop where I sell various products. So far, I have always had the VAT calculation done by an external tax consultant. However, since the costs for this are relatively high, I am considering whether I could take over the VAT calculation myself.
I am unsure whether I am even authorized to do so and whether I can carry out the calculation correctly. I am worried that I might make mistakes and get into tax difficulties as a result.
The following information is relevant: My online shop generates a turnover of approximately 50,000 euros per month. I sell products both within Germany and abroad. Additionally, I have some products that fall under the reduced VAT rate.
Therefore, my question is: Can I calculate the VAT for my online shop myself? If so, what steps do I need to take and how can I ensure that my calculations are correct?
Thank you in advance for your help.
Sincerely,
Dora Melzer
Dear Mrs. Melzer,
Thank you for your inquiry regarding the calculation of value added tax for your online shop. It is understandable that you are concerned about whether you can take on this task yourself and avoid making any mistakes.
In principle, it is possible to calculate the value added tax for your online shop yourself. However, you must follow some important steps to ensure that your calculations are correct and that you do not encounter any tax difficulties.
First and foremost, it is important that you are aware of the different value added tax rates in Germany. The standard rate is currently 19%, while the reduced rate is 7%. You mentioned that some of your products fall under the reduced value added tax. Therefore, you must ensure that you apply the correct rates to your products.
Furthermore, it is important to differentiate between intra-community deliveries within the EU and exports to countries outside the EU. There are specific regulations for intra-community deliveries that you must adhere to. Different regulations apply to exports outside the EU.
To calculate the value added tax correctly, you must also document all the sales of your online shop in detail and break them down accordingly. You should maintain clear bookkeeping records that document all income and expenses.
It may also be helpful to stay informed about any changes in value added tax regulations to ensure that you are always up to date.
If you are unsure whether you can correctly calculate the value added tax, I recommend seeking advice from an experienced tax advisor. They can help you follow the right steps and ensure that your calculations are accurate.
I hope this information is helpful to you and wish you success in calculating the value added tax for your online shop.
Best regards,
Friedhelm Sauer
