The following are some common questions/answers concerning Tax Management for Sellers. Should you have additional questions, please contact seller-support@ThingPark.com
As a seller, when do I receive my payments?
ThingPark Market is in charge to process all payments from buyer to seller. Process is as follows:
1. ThingPark receives order from the buyer
2. ThingPark awaits payment from the buyer and releases order to seller upon receipt
3. Seller ships merchandise / delivers service to the buyer and send confirmation to buyer
4. ThingPark pays the seller End of Month + 26 days
Every month on day 26, ThingPark processes all due transactions to seller, on a single payment. This payment amounts 85% of the full order value of the past month (including VAT & Shipping).
How is ThingPark commission calculated?
ThingPark commission is calculated on the total amount (total+tax+shipping) paid by the customer.
How is VAT managed?
For each new country where a seller is located, ThingPark will set the tax rules. If you are our first seller partner in a country we will be working closely with you to configure the tax rules.
VAT for EU seller
- We calculate VAT rules based on shipping origin provide by the seller and shipping destination provide by the buyer. If tax is applicable, we apply it to the shipping.
- Under EU VAT rules, ThingPark will calculate and collect EU VAT on Selling on ThingPark related to sales made by sellers on non-EU websites who do not have an EU VAT registration number and are a resident of an EU member state.
- Sales made to business sellers (i.e.: sellers with an EU VAT number) will not be subject to EU VAT collection. ThingPark will charge the standard rate of VAT applicable to your EU Member State of residence for any Selling on ThingPark.
- If you are a resident of an EU member state and have an EU VAT ID number, please provide ThingPark with that number to avoid having EU VAT applied to your commission fees.
- To provide your EU VAT registration numbers, from Seller Central click Settings > Account, and Edit your European VAT numbers.
VAT in US
At this time, ThingPark Marketplace does not support Seller from the US. Seller can propose to sell in the US only if they are allow to sell tax excl.
What are the current accepted countries ?
Please find below the list of the countries currently accepted to register for selling on ThingPark. Please note that in order to be able to sell on ThingPark, you need to be resident in one of the following countries, have a local phone number and have an internationally chargeable credit card
- Europe (Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK)
If your country is not listed, please contact us at email@example.com. We can on board new partner that want to sales tax excluded through our Marketplace.
Note for International sellers
If you register to sell on ThingPark from a country outside of Europe, there are important steps you must take before you begin selling. The following steps ensure a great experience for you and for customers:
To be paid, you need to provide a bank account in a country supported by ThingPark. Currently, ThingPark supports bank accounts in the Eurozone.
You must accurately state the 'shipping from' country in your ThingPark seller profile for display to customers,
- You will be responsible for ensuring that you will meet the shipping expectations for all orders you receive,
- Products must be listed in Euro.
- All customer facing content and communications must be in English,
- You should understand the laws that apply to you as a seller on our website and only list, sell, and export products that comply with those laws,
Who will send a printed receipt to the customer?
As a Seller you will be responsible to send the receipt to the buyer. You will be responsible to generate the receipt with VAT tax to manage shipment and customs.
ThingPark Market will generate the purchase order to seller, confirm buyer payment, and transmit payment to seller.