European Discogs sellers now subject to VAT
The changes came into effect today
Bad news for Discogs users as the record-selling website has introduced Value Added Tax (VAT) for European sellers as of today.
The move comes part of an updated European tax policy which includes third-party services, such as Discogs' Marketplace.
This basically means that any transactions made within the EU will now be subject to VAT, with an example outlined on the Discogs site.
"A seller in France will have 20% of the Discogs 8% sales fee added to their monthly invoice. That means a monthly invoice of sales fees (8% of all sales during the month) that totaled $10 USD would have a VAT of $2 added."
Check the full rundown of the changes here.
[Via: RA]
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