Skip to main content

What is MOSS? Calculating VAT when selling electronic services

Want some special guidance on how to treat VAT correctly for your automated electronic service supplying businesses? No wonder, you have landed at the right page. Here you’ll find some detailed tips from expert tax accountants Melbourne, after which you’ll gain a deep understanding of various dynamics of VAT.

What’s VAT?

VAT stands for Value Added Tax. It is a kind of tax that is levied on goods and services while selling and purchasing process. However, VAT is also called GST in Australia (GST-stands for Goods and Services Tax). Nearly all types of goods and services come under VAT.
Hence, if your business is also operational in the field of supplying or selling electronic services, then it will be influenced positively by the scheme ‘MOSS’ (Mini One Stop Shop).

What is MOSS?

If you run a business on a small scale in which you provide electronically supplied services across E.U. country, and the burden of VAT appears annoying, then MOSS is definitely for the people like you. Value Added Tax: Mini One Stop Shop after being brought in E.U. countries on 1 January 2015 enabled sellers just to pay VAT to HRMC because earlier registering VAT in every E.U. country was essential.

But what are Electronically supplied services? How to be eligible for MOSS?

If you want to be eligible for MOSS, your digital services must meet the requirements. According to E.U. law for MOSS, a business should be operational in sectors, such as- telecommunication, e-services or broadcasting and irrespective to other business must be supplied directly to consumers. For example, a business that sells-
  1. Hosting services
  2. Delivery of services related to websites (E.G. CMS Systems, Website Creators, Ready Templates)
  3. Downloading and updating computer programs
  4. Subscriptions to electronic magazines and paid contents
  5. Music, Digital Gambling, Films, and Games,
  6. Political, Entertainment, Cultural, Scientific, and Sports Broadcasts transmitted electronically
  7. E-Learning and other services, like Internet Courses, E-Books and Webinars, etc. are eligible to reap the benefits of MOSS.
Your electronic products business must be operational and supplying these services; otherwise, you can go with VAT- the general rule for taxation.

Comments

Post a Comment

Popular posts from this blog

Accounting and Taxation Submission Links for Australia

https://taxaccountantmelbourne.webs.com/ https://accounts-nextgens-initial-project.webflow.io/blog https://5ea7ddfe1b9a8.site123.me/ https://sites.google.com/view/taxagentmelbourne/ https://accountsnextgen.hatenablog.com/entry/2020/11/24/135529 https://visual.ly/users/arpitnextgen/portfolio https://in.pinterest.com/arpitnextgen/ https://accountsnext.cgsociety.org/ https://www.behance.net/accountsnext https://mix.com/accountsnext https://list.ly/accountsnext/lists https://trello.com/accountsnext https://au.showmelocal.com/profile.aspx?bid=23846821 https://mylisting.aussieweb.com.au/thankyou.aspx?s=a&id=190331 https://au.oceaniabiz.com/victoria/accounts-nextgen-344995 https://yp24.com/Accountant/AU/Melbourne/Accounts-NextGen_40639.html http://www.wikimoneyau.com/practitioners/profile/1470/Arpit-Umrewal https://www.eventbrite.com.au/o/accounts-nextgen-30214461010 http://taxation-consultants-vic.australia2business.com/ https://mapsconnect.apple.com/business/ui/editPlace?id=da8e3b5b-8ac
Post a Comment
Read more

Find Best Bookkeepers in Melbourne

Better finances are created by better bookkeepers. A professional accountant holds the power to either make or break a business. They will assist methods to simplify things and provide excellent financial plans for your financial goals. Remember being in control of your finances is a great stress reliever! Find the best bookkeeping services in melbourne Are you also looking for the bestbookkeeping services for your small business ? First and foremost, jump out of your comfort zone and start exploring. Great things never come from your comfort zone. Similarly, finding a good bookkeeper for your small business will require some hard work. Find someone well-versed in tax regulations applicable to your company rather than their home base. A good bookkeeper must be a financial specialist with other qualities such as specialising in tax accounting, tax law expertise, and know-how. They also assist their clients in saving money by making sound financial judgements on tax-related issues. S
Post a Comment
Read more

How much can your claim on tax working from home?

The pandemic has changed the entire working sector of the world. The economic crisis has led to less demand for products, and thousands of employees have lost their jobs. Nations have imposed the lockdown in their entire states to mitigate the spread, and these restrictions have made the IT firm employees work from their homes. In short, all the pre-calculations of 2020 have now just become speculation.  The half-year has passed in the battle of Covid-19, but those working also need to think about the tax returns and reimbursement from the company or consult a  tax accountant . While working at home, we sometimes wonder how much we can claim on tax. But don’t worry; you have landed on the right page. We will sort out your all hazy thoughts about reimbursement. And also tell you about the best ways to calculate your tax deductions-  Home office deduction Due to the pandemic crisis, a massive number of employees is now working from home, and there is no complete idea when t
Post a Comment
Read more