VAT
running a marketplace online is not like it used to be
the marketplace itself is now required to collect and pay VAT on sellers behalf
UK, EU, 40 US States, and others
Post by Conor McGee
So sales tax.
So when Twetch Road sales hit a transaction threshold marketplace facilitator laws kick in.
They have made it harder but not impossible.
Do these laws apply to Jpegs?
What the chain says
- Block
- 961 817
- Time
- 2026-08-11T07:38:44Z
- Signer
- 1CporeJP76jtbAd3AHXAA4ZTYYMo3J7UG1
- App
- twetch
- Type
- reply
- Content type
- text/markdown
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1CporeJP76jtbAd3AHXAA4ZTYYMo3J7UG1 UnverifiedReplies (4)
marketplaces, come 2028 it will apply to everything in EU
the biggest problem is knowing the location of buyers
if you have EU customers you must pay VAT in EU for example
Yep they are making it difficult.
So when listing items for sale only Twetch Green users can do so. Anyone can buy but only Green can sell.
At listing it can't be that difficult to add the VAT/sales tax tab which would calculate it automatically.
Problem I see is say it's a 1 BSV sales tax. They will want that in fiat not bsv. So upon sale it would need to convert to USD/EUR/GBP etc instantly to be able to pay the sales tax.
That's really the only issue I see now.
Scanning listings is kinda covered now with AI.
the difficult part is not collecting the sales tax or VAT
but paying it, as would need VAT registration in EU and UK
and yes conversion would need be done instantly
this then adds expense
being twetch green would make no difference
but twetch would need to KYC sellers of the market place
It would be a lot of hassle for a small team
Twetch green needs to be the KYC imo.
Green generates revenue which can be used to help cover costs of this.
To be honest they are already facilitating the sale of jpegs.
So what's the difference? NFTs are not exempt from VAT.
Building something worthwhile and long-lasting is always expensive. Hassle isn't impossible.
So the question is really should it be done?