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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 06 Oct 2021, 12:47 
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Why are they charging a VAT on total cost? In the US you only pay tax on profit (and can even deduct a loss)? The profit margin on a lot of things people sell on ebay is less than 20% so how does this not kill the resale market in Europe?
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 06 Oct 2021, 13:01 
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invenio wrote:
Why are they charging a VAT on total cost? In the US you only pay tax on profit (and can even deduct a loss)? The profit margin on a lot of things people sell on ebay is less than 20% so how does this not kill the resale market in Europe?


As far as I can remember VAT is always charged on the total value (including shipping).
=> Discogs or eBay are applying this rule.

That's how Singapore or Japan or EU tax incoming shipments.
Among EU countries there is no VAT added, only when you cross the border.

So far I've never seen USA taxing an import but this might change as more and more countries are looking for ways to collect extra taxes.

Also, if you are a company, you can claim the VAT back in some situations.
This does not apply for individuals.

Julien
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 15 Oct 2021, 04:07 
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admin wrote:
Now add the $2.50 fee to withdraw from Payoneer to bank account and we're up to 18.91% fees on this $120 transaction.


Add one more !!!

I am withdrawing USD to a US USD account... but I'm registered in Japan.

2% withdrawal fees on the net amount (that's 1.66% on gross amount).

So far, eBay+Payoneer is a 18.50% fees proposition to me.

I'll increase again the items I have listed on eBay.

WTF eBay...

Julien
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 15 Oct 2021, 10:41 
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admin wrote:
Among EU countries there is no VAT added, only when you cross the border.

This is partially true.

In some EU countries, like Sweden for instance, you have to pay the VAT rate of your home country when buying from a seller who exports goods for a value of over 10,000 Euros. So for instance, if I buy from Amazon in Germany I pay a 25% VAT instead of the 19%. So basically you'll get a 6% higher VAT which is still very reasonable. Just something a lot of people miss out on.
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 16 Oct 2021, 12:08 
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Stopped selling on ebay when they demanded bank details a few months ago. Nope. No thanks. Bye Ebay. Hello Gumtree.
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 23 Jun 2022, 06:57 
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admin wrote:
So far, eBay+Payoneer is a 18.50% fees proposition to me.


And checking a recent $375 sale on eBay, they took higher fees on VAT + shipping, then Payoneer took another 2%.

Total in fees: almost 21%

We are getting near the 30% "abusive" Apple Store fee that most companies are now fighting in court.

Julien
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 23 Jun 2022, 08:37 
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Take the (volatile) orange pill. :thumbup:
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 Post subject: Re: eBay to phase out Paypal for Payoneer?
PostPosted: 03 Aug 2022, 02:31 
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teddanson wrote:
Take the (volatile) orange pill. :thumbup:


Oh no. I mined in 2013~14 and made some profit but I'm completely out of it and pushing strongly against it.

For a good summary of why, I'm in line with https://www.schneier.com/crypto-gram/archives/2022/0715.html#cg8

Julien
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