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Stripe Tax

stripe.com

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Re: Stripe Tax

#41

Post by kmoriarty »

tylermenezes wrote: post #11

Maybe someone from Stripe is reading the comments and can explain: why do refunds not reduce the reported tax collected? Are we supposed to keep separate records of that?

Good question! You can create a Credit Note, which will indeed shift the liability and will correctly reference and update the prior legal invoice. If you’re refunding a PaymentIntent however, we won’t shift the liability. Basically, we offer you two ways to move money back to your customer: one that might be a higher lift which ensures your accounting is updated and the liability if shifted, or a much easier way to refund, but you may pay some tax out of pocket.

Re: Stripe Tax

#43

Post by kmoriarty »

arnon wrote: post #38

Note this big gotcha: Stripe's VIES validation only takes place once and there is no way to retrigger it. For compliance purposes you have to validate it yourself every quarter or so, on recurring transactions.

Hey there! I'm the PM for Stripe Tax, I'd love to hear more about your use case around how frequently you'd want us to be revalidating VAT IDs, the information you'd want returned, and of course any other tax-related requests you may have: kmoriarty@stripe.com

Re: Stripe Tax

#44

Post by jokethrowaway »

This is great! ATM I'm banning all EU end users from purchasing my SaaS unless they're a business because the cost of handling VATMOSS is just not worth it.

It also definitely played a role in choosing to do a B2B service over a B2C one.

So now the choice is:

- File VAT yourself, pay 3.5% + some pennies to Stripe - Pay 5% to Paddle and they file VAT for you

Definitely glad to see more competition in this area.

Re: Stripe Tax

#46

Post by MichaelApproved »

blntechie wrote: post #39

Stripe makes such complex products appear so simple. Their product pages are art of work. Amazing company.

Like, every single time. Their execution is amazing.

Serious question, have any of their products had a poor rollout?

I’m not asking about a feature you’d prefer that’s missing. I’m asking about something being buggy, poorly documented, or having a confusing marketing page.

Re: Stripe Tax

#48

Post by justsomeuser »

hardwaresofton wrote: post #25
chinathrow wrote: post #6

Earlier quoted context omitted.

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.

Welcome to the world of saavy SaaS businesses. Smart/enterprising SaaS founders and businesses these days all know to tie their billing to whatever metric/KPI they are solving for customers -- per-seat billing, per-pageview, etc. Why make a little money (even if it's 2-10x your cost) when you can make much more by taking a small-seeming percentage of every single that comes through your business. When your customer w…

Apparently Buffet calls this a “toll booth” business.

Once the road is built (customer integrates Stripe into their state machine), you can just keep collecting their toll for driving on the Stripe highway.

Re: Stripe Tax

#49

Post by revorad »

vvoyer wrote: post #5

I 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…

I was part of the beta too for my education site (https://learnetto.com) and I couldn't agree more - Stripe has done a stellar job.

Re: Stripe Tax

#50

Post by kmoriarty »

jmuguy wrote: post #30

Very excited about this, hoping to see hotel/rental taxes supported. Trying to figure out how different areas tax rentals is kind of a nightmare. Avalara offers this service but we couldn't get past their sales team to actually use their product

We're not there just yet, but feel free to shoot me (kmoriarty@stripe.com) an email with any other tax related requests or requirements, as this is just the beginning!
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