5 posts shown.
Anyone here able to help me out?
We picked up some inventory from a supplier over in Ireland under EXV terms. We’re then flipping that exact same stock to a buyer who's also a tax entity based right there in Ireland. The goods aren't even touching American soil. How am I supposed to book the incoming invoice from the supplier, how do I handle the outgoing invoice, and whose VAT am I actually dealing with 🤷
Back again 🙂🙂 just thinking out loud here...
So, we just got an invoice from a carrier based in Mexico for a transport service they handled back on May 8th, 2013. They moved some goods for us from Steinhagen to Mexico City.
The bill is for 2000 EUR—transport services, zero VAT listed.
Now, looking at the VAT law, specifically Article 138. Regarding VAT obligations incurred before this Law took effect, the rules for determining, collecting, and refunding them will follow the provisions of the previous VAT law that was in force until this one kicked in.
Basically, that means I should be applying the old law to this specific invoice, and under those old rules, this service doesn't fall under the exemptions—meaning it’s not taxed.
If that's the case, I don't need to list this under supplies from non-resident entities in the US, right? Can I just log it as a standard expense in the regular books for the IRS?
Thanks for the help, everyone. I promise this is my last rant for the day 🙂🙂
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ruggedmaker2 said:Look, they charged you sales tax, plain and simple. You don't list it anywhere—not on your tax returns, not in your filings—because if you aren't reporting a liability, you have zero right to claim an input credit.
Just write the whole thing off as an expense. If you’re really hell-bent on getting that sales tax back, you'll have to go through the IRS online portal and fight for it there.
🙏🙏
So basically, I just log it in my books for the IRS as a straight expense, cool.
Man, this sales tax stuff is driving me crazy—just when I thought I finally had things figured out, something else trips me up. I give them my tax ID and they still hit me with the tax... isn't that what the B2B exemption is for? ...ugh, whatever. 😵😵
Hey, I need some help here. We’ve got these fuel bills for our trucks from back when we were driving through Austria. We just got a consolidated invoice covering a specific period from Shell USA, and they’ve charged us Austrian sales tax.
The total is $930.24 plus 22% tax 😁
We already sent them our US tax ID. My question is: do we need to perform a self-assessment on this—basically, do we have to account for the use tax on our end?
Also, where am I supposed to log an invoice like this in our tax records? Since the bill shows their local tax, I'm assuming it shouldn't be going into our standard sales tax filings, or am I totally off base?
Hey everyone, I’ve been lurking here for a bit and it seems like a lot of you actually know more than the consultants who charge an arm and a leg for their advice.
I need a little help—I'm having some doubts regarding how the new Value Added Tax Act applies here, but specifically, I'm looking at this:
We had some clients from Canada send us a machine. Our job is to modify it—basically, we have to upgrade one specific part and then ship it back to them.
So, what I want to know is do we need to charge tax on this service and how should we be recording this in the books?