Stripe Tax
stripe.com
Stripe Tax
1–10 of 383 posts
Re: Stripe Tax
#2Really excited for this, hopefully Stripe brings out being a merchant of record soon too!
Re: Stripe Tax
#3Very happy to see this, it is such a necessary feature. I was recently looking for an option to enable VAT calculation in Stripe and couldn't believe it wasn't there. Now it is, and it looks very well done as Stripe's features usually are.
But 0.5% fee per transaction is.. steep.
Re: Stripe Tax
#4This has a huge potential to disrupt and simplify a number of things that happen behind the scenes.
Re: Stripe Tax
#5I was lucky to be part of the beta for my SaaS (https://turnshift.app) and I must say this new feature simplifies things A LOT.
Especially as a EU business owner, I previously had to sync every VAT tax rate possible, use a complex workflow to know if a customer needed to pay taxes or not, link tax rates to customers, and create taxes reports for my accountant. Stripe tax does all of that automatically, based on the customer full address and VAT numbers.
Here's a twitter thread of everything you had to do previously: https://twitter.com/vvoyer/status/1347488977738149888
PS: Yes there were other services (Paddle) providing this (and much more to be honest), but the Stripe API and customization options makes it my go-to solution for integrating payments.
Re: Stripe Tax
#6Very happy to see this, it is such a necessary feature. I was recently looking for an option to enable VAT calculation in Stripe and couldn't believe it wasn't there. Now it is, and it looks very well done as Stripe's features usually are. But 0.5% fee per transaction is.. steep.
Yes, the 0.5% adds up. 0.5% for Billing, 2.9% + 30c per transaction, more if you add e.g. fraud for teams etc.
Stripe is great and I use it too, but the way they charge you (a percentage of your revenue) is simply not that fair in the long run while their workload has a fixed cost per transaction.
Re: Stripe Tax
#7Great Job.
As much as taxes suck, taxes on online transactions are becoming ever more common (and not only in the EU). If anyone is curious, this is a good write up of how it works https://support.patreon.com/hc/en-us/articles/360043055071-S... (and on Patreon it gets even more complicated because it changes by US state and type of perk)
Re: Stripe Tax
#8Awesome job from Stripe on this one. For years, the lack of VAT/Sales tax handling in Stripe’s Checkout was a glaring omission.
They’ve really delivered with an outstanding solution.
Re: Stripe Tax
#9Wouldn't most online businesses just need to collect the taxes for the customers that their business operates in?
Posting this on the basis that there should be no stupid questions when it comes to tax.
For example; an Australian business needs to collect GST for Australian customers only. Americans accessing the Australian service would not be obligated to pay GST and as the Australian business doesn't have a US entity wouldn't have to collect US state taxes.
Re: Stripe Tax
#10Wouldn't most online businesses just need to collect the taxes for the customers that their business operates in? Posting this on the basis that there should be no stupid questions when it comes to tax. For example; an Australian business needs to collect GST for Australian customers only. Americans accessing the Australian service would not be obligated to pay GST and as the Australian business doesn't have a US ent…
No, that’s not correct at all.
Each country has their own laws about how tax works for online sales, and who is expected to pay it.
You can choose to ignore what governments in other countries expect. But that’s your decision.