Tax affairs for a dropshipping businesss (as a minor)

[Gast]

So I'm planning to start a dropshipping business and I'm researching on how and what taxes I will have have to pay. I would like to know exactly what taxes I would need to pay. 

As for VAT, I think I won't have to pay anything untill I reach a higher turnover than 1800€ (found in the KOR)

And I don't think I have to pay any import taxes either, since I'm importing from outside the EU, and my product is not higher than 150€.

 

Of course I could be mistaken, and that's why I need a full breakdown of taxes I will have to pay (if I'm shipping worldwide).

 

I would appreciate any response!

 

[Hans van den Bergh]

Welcome to HL

 

'(as a minor)' does this concern a minor in your collegeprogram?

[Ward van der Put]

A minor also is a minderjarige in Dutch: underage, not having reached legal majority. 🤓

[Hans van den Bergh]

4 minuten geleden, Ward van der Put zei:

A minor also is a minderjarige in Dutch: underage, not having reached legal majority. 🤓

 

🤭+1👍🏻

[RubenT]

1 uur geleden, Gast zei:

As for VAT, I think I won't have to pay anything untill I reach a higher turnover than 1800€ (found in the KOR)

If you aren't obliged to register your company at the Kamer van Koophandel (Chamber of Commerce) and your yearly turnover is less than € 1800, than it isn't mandatory to register as an entrepreneur for VAT at the Belastingdienst (Tax authorities). This means that you'll be using the KOR. (Source)

 

Make sure that you understand the consequences of using the KOR. You are not allowed to add VAT on your invoices, but you also aren't allowed to reclaim any paid VAT. That is something else than "not having to pay VAT".

 

 

1 uur geleden, Gast zei:

And I don't think I have to pay any import taxes either, since I'm importing from outside the EU, and my product is not higher than 150€.

 

The limit of €150 is meant for the total shipment. So if you import two pieces of €100 each in one shipment, you will have to pay import taxes. And don't forget that you have to pay VAT when importing, without a treshold.

[Bert.]

2 uur geleden, Gast zei:

Of course I could be mistaken, and that's why I need a full breakdown of taxes I will have to pay (if I'm shipping worldwide).

If you're shipping worldwide you'll have to follow the local tax rules, if they apply to you, with regard to the delivery conditions between you and your client and you and your supplier. 

 

You're not the first here with these kinds of questions, and also not the first one jumping straight to questions about how not to pay taxes or VAT. Sorry to say, probably only interested in cutting corners trying to save a few Euro's. If you're starting in this businsess you should first look into things like T&C's, logistics, customs valuation and tax/customs compliance.