Amazon Europe for US Amazon Sellers with Kevin Sanderson - a podcast by Michael Veazey

 Amazon Europe for US Amazon Sellers with Kevin Sanderson
UK And Europe cf Canada- register for VAT number
- And EORI number- Ship stuff in
- You do need someone in the country to act as VAT agent- Use an agency eg Avask - maybe £200 a quarter
VAT for American importers- to ask your tax advisor- Ask about the flat rate scheme - this simplifies - if online retailer as SIC code 7.5%
- And also 1st year is simpler- with VAT you have selling price and credits
- But there are more issues- Eg someone else imports on their EORI number or VAT
- On the standard “scheme” take what you collect- Subtract what you paid at the border
- If you’re US based, you don’t have a lot of credits- Depending on cost of your product
- Tipping point is to do the flat schemeHow to make it less scary?
- Be wary of getting advice from Europeans as an American importing- Use the Amazon VAT resources page for UK (before you talk to anyone in a company)
- Accounting for KPMG put together - a VAT questionnaireDistance selling for Amazon Europe
You can sell €100K in Euros in Germany- You can sell UK govt your VAT
- Easy to use flat rate up to £230K revenueCurrency fluctuations
- They don’t really fluctuate that much- You’re only really talking about a modest amount of things
- Say you £2000 in sales- Amazon subtracts £700 in fees in local currency
- Have PPC come out of account (avoid conversion fees if use credit card)- You end up with say 50% in payout from Amazon
- That is what is subject to currency fluctuations- You can hold in local currency if you want
Why expand in an economic contraction?Maybe think of it not as expansion but as diversification.
- To expand you could go after hot products- You could go after hand sanitisers and masks
- You could end with a container left!- Focus on fundamentals
- Get your offer to more people!- Even if your margins aren’t quite as good
- It’s additional revenue and cashflowLess competition overseas
- Fewer aggressive tactics than in USAFree Webinar by Kevin
Click on the link below to accessAmazon International Expansion
Related episodes from the AFBA podcast:Importing to the UK from China with Neil Curran (freight forwarder)

Amazon Canada for US Amazon sellers with Kevin SandersonSelling in UK with Kevin Sanderson with Kevin Sanderson

 

Further episodes of Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Further podcasts by Michael Veazey

Website of Michael Veazey