This Blog will update as we continue to release improvements for VAT-registered customers. We continue to work through the solutions with our tax consultants and providers that will give our customers the easiest accounting and compliance experience possible. Please note that the invoicing discussed below will be ready before the August 15th legal requirement.
With the VAT regulations going live July 1st, StockX has changed to an undisclosed agent model, whereby StockX acts as an agent facilitating transactions between buyers and sellers. Sellers sell their items to StockX and StockX sells the item to the Buyers. StockX then assumes the responsibility to collect and remit VAT payments. This impacts the way VAT is charged on the transaction and how invoices are issued, but it does not impact the legal relationships in the transaction, which are defined in our Terms and Conditions of Use.
By registering for a VAT ID and sharing that number with StockX, you stand to benefit:
- When buying on StockX with a verified EU VAT ID number outside the Netherlands, StockX’ sale to you is an intra-EU sale of goods subject to zero-rating in the Netherlands. Further, you can claim input VAT credits on your StockX purchases, essentially eliminating VAT charges on all your purchases, effectively giving you a VAT saving between 17 to 27%. Failing to provide your valid VAT ID will require StockX to charge you the VAT rate associated with your shipping country.
- As a VAT registered buyer in the Netherlands, your purchases are subject to the Reverse Charge Mechanism. You need to self-account for VAT on this domestic sale in the Netherlands under the Reverse Charge Mechanism, in accordance with article 12, paragraph 3, Dutch VAT Act (‘Wet op de Omzetbelasting 1968’). You must pay and remit this VAT to the Tax authorities through your own VAT return. StockX is not responsible for this and will not do this on your behalf. StockX will issue an invoice to you without VAT and referencing the Reverse Charge Mechanism and your VAT identification number. This invoice can be found in your buying history tab. Please note that Invoicing will not be available on July 1st, but will be available before the August 15th legal requirement.
- Due to our VAT model, the majority of sellers sell directly to StockX and are subject to a zero VAT rate. You are required to issue an invoice for VAT purposes to StockX for the items you sell on our live marketplace based on the requirements and regulations of your local government (the country in your shipping address). StockX is not responsible for this and will not do this on your behalf. On your invoice, please note that you have sold to StockX LLC, address 1046 Woodward Avenue, Detroit, MI, 48226 US, VAT ID: NL826418247B01. You can send your invoice to [email protected]
- This is an interim solution until Self-Billing is released, in which we will create this invoice on your behalf. StockX will notify users who have given us their VAT ID when Self-Billing is live.
- As a VAT registered seller in the Netherlands, you are responsible to report and pay 21% VAT (based on your net payout) to the Dutch authorities through your own VAT return. While StockX is not responsible for this and will not do so on your behalf.
You can input your VAT ID number in the account settings page. Please note: You will only see the option to add your VAT ID number if your address on file is in the 27 EU member states.
For more details on VAT and how to register for your VAT ID, please visit our EU VAT FAQ.
This only applies to the 27 EU member states.
