Telekom Electronic Beats

Discogs Begins Charging European Sellers VAT

Online music marketplace Discogs has announced that, starting today, it will begin adding VAT (Value Added Tax)  to all European sales transaction fees. The move reportedly stems from an updated EU policy that extends tax obligations to third-party electronic services, and is broken down on Discogs’ FAQ page like so:

“A seller in France will have 20% of the Discogs 8% sales fee added to their monthly invoice. That means a monthly invoice of sales fees (8% of all sales during the month) that totaled $10 USD would have a VAT of $2 added.”

VAT will be calculated into sellers’ monthly fees unless they are already collecting the tax independently. For complete details, head here.