I am the owner of blu-rayshop.gr in Greece. I would like to know how can Ι justify the fees from paypal for each transaction as an expense of my business. The amount of the fee can not be presented by me as my income since it is not! I asked my accountant and he told that i must get Paypal's VAT registration number and full adrress.Does anybody has the same problem with his businness? The fees are not paid to me so i shouldn't pay tax for them. Thank you.
The fees are indeed a normal cost of business - in this case credit card processing fees. These should be ordinarially deductable from your profit as part of accounting for tax purposes.
Since we don't have a VAT in the US, I can't advise as to proceedure. I'd call PP's customer service and ask them for their VAT # and address, if that was what my accountant told me to do.
I can advise you that as PayPal are an American company, we do not have a VAT number, and we are unable to assist you with this.
My,my....what is this.Don't they pay tax in the US?Don;t they have tax agencies?i wonder how did they even think about replying something like these.Don't i pay them for their services?Shouldn't they give me an invoice.UNBELIEVABLE!!!!
