#mick23_code

1 messages · Page 1 of 1 (latest)

stiff forgeBOT
tidal iceBOT
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stiff forgeBOT
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earnest gale
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This is a painful topic.....

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Let me waffle on a bit to hopefully then try to ask some kind of actual question.

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So. Stripe Tax. It gets me the calculation I need to charge the correct amount of tax globally.

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Then comes the fun parts;

  1. Accounting for this correctly in the existing financial system of record (which may be enterprise class, or completely shit and designed to only file in one country automatically)
  2. Actually registering in the different regions and....
  3. Actually submitting returns in as automated way as practically possible
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So in the UK, we have the whole Making Tax Digital stuff, aka. basically forcing digital submissions. That works great in all finance systems as the legislation has basically forced them to implement this feature as a priority in recent years. So I can click a button and let HMRC know how much VAT needs to be paid. Simple. Job done.

sly arrow
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Hi there!

earnest gale
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Now what I haven't quite understood yet with Stripe Tax (I've perhaps not got around to learning about this stuff yet....) is how all this works on a global scale.

sly arrow
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This is a bit hard to follow (and I understand Tax is complicated!)

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Could you summarize your question in 1-2 sentences?

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Note that I can't provide tax advice (and neither can our Support team members) so, depending on the question, I may suggest to seek help from a tax professional

earnest gale
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I think the question is almost here.... 🙂

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My understanding at present is basically Stripe Tax (in addition to the calculation of how much tax to charge the customer at the checkout) is to also monitor when we need to register in a specific tax jurisdiction.

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So I "think" my questions are;

  1. Does Stripe Tax do that automatic registration for me, or, do I need to basically then go away and read all the rules of that jurisdiction and figure that stuff out myself and simply submit the numbers to the tax authority accordingly?
  2. Does Stripe Tax also do the "digital filing" of "tax returns" for me, just like what Making Tax Digital has done in the UK for financial accounting systems, or, do I need to manuallly submit tax returns
  3. How does all this link formally into the primary financial accountancy package in use? i.e. if selling globally to all supported Stripe Tax countries, is there a list of supported finance software to use, as lower end systems tend to focus purely on single-country transactions.
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And yes, this is not just a "bit" hard to follow, it's an absolute nightmare is global tax 🤣 My brain is exploding.

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So hopefully the above helps summarise the question. It's about the tech/product features, not tax advise.

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Have I explained the question well enough to even understand what the question is that I am asking?

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earnest gale
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Right, that has cleared a few things up. Now I know.

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Now, a separate question - which is going to be a bit difficult to be unbiased to answer, particularly on a public forum like this. So please feel free not to answer also given that.

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Paddle.

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So I've only extremely briefly come across these guys, ironically off the back of a tax fine they got their self on a YouTube video they talked about it on, and just today, off the back of their CEO stepping down. So I know literally nothing about them, but of a 5 mins skim of their website, their marketing material appears to solve #1 and #2 above.

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I'm sure you guys are intimately aware of competitors within this space, given there are so few ( I thought Stripe was genuinely the only real player in this space until recently )

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So the question is (see previous point about not wanting to answer....) - Does Paddle genuinely do this better #1, #2, than Stripe Tax at present?

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For reference also, my leading factor in any decision is support-ability. Not % +/- 1% transaction fees etc. It's meaningless is that unless at super enterprise global scale. My goal here is simple - It needs to be as pain free as possible (and you guys in this chat have made that so, and I have a high afinity to Stripe because of the quality of the documentation and support you do).

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I have only asked this question off the back of the Paddle CEO's LinkedIn post that made me think about things that hadn't yet crossed my mind of things to even think about.

sly arrow
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Right, I can't really answer that. I'm sure there are likely pros and cons between the two options and for your specific use case.

earnest gale
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Yeah, that's fine 😆

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I'm continuing ahead with Stripe anyhow till I get to that pain point anyhow as I'm making good progress so far.

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All possible with your support. Genuinely couldn't piece these dots together without you.

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Anyhow, I'll continue to have a play. I already know next steps I need to take on the journey.

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As always, thanks again for the chat. Moves my understanding on one step at a time in this super complex world.