New global rules for cross-border online sales have caught many businesses off guard with the complexity of filing and paying VAT. Despite investing time and resources into registration and system amendments, businesses still struggle with paying taxes due on online sales. Payment requirements vary across different tax jurisdictions, with some requiring payment reference numbers, proof of payment, and engagement of local third parties. Specific examples of complex payment processes include currency conversion in Cambodia, reference number generation in Colombia, bank commission fees in Serbia, and hidden bank fees in Indonesia. In Thailand, payment references have a limited lifespan, causing issues for late payments.
Source Iman Deschâtres
