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Home > Amazing FBA > Amazon Europe for US Amazon Sellers with Kevin Sanderson
Podcast: Amazing FBA
Episode:

Amazon Europe for US Amazon Sellers with Kevin Sanderson
Category: Business
Duration: 00:28:59
Publish Date: 2020-04-29 14:18:48
Description:  Amazon Europe for US Amazon Sellers with Kevin Sanderson UK And Europe cf Canada - register for VAT number - And EORI number - Ship stuff in - You do need someone in the country to act as VAT agent - Use an agency eg Avask - maybe £200 a quarter VAT for American importers- to ask your tax advisor - Ask about the flat rate scheme - this simplifies - if online retailer as SIC code 7.5% - And also 1st year is simpler - with VAT you have selling price and credits - But there are more issues - Eg someone else imports on their EORI number or VAT - On the standard “scheme” take what you collect - Subtract what you paid at the border - If you’re US based, you don’t have a lot of credits - Depending on cost of your product - Tipping point is to do the flat scheme How to make it less scary? - Be wary of getting advice from Europeans as an American importing - Use the Amazon VAT resources page for UK (before you talk to anyone in a company) - Accounting for KPMG put together - a VAT questionnaire Distance selling for Amazon Europe You can sell €100K in Euros in Germany - You can sell UK govt your VAT - Easy to use flat rate up to £230K revenue Currency fluctuations - They don’t really fluctuate that much - You’re only really talking about a modest amount of things - Say you £2000 in sales - Amazon subtracts £700 in fees in local currency - Have PPC come out of account (avoid conversion fees if use credit card) - You end up with say 50% in payout from Amazon - That is what is subject to currency fluctuations - You can hold in local currency if you want Why expand in an economic contraction? Maybe think of it not as expansion but as diversification. - To expand you could go after hot products - You could go after hand sanitisers and masks - You could end with a container left! - Focus on fundamentals - Get your offer to more people! - Even if your margins aren’t quite as good - It’s additional revenue and cashflow Less competition overseas - Fewer aggressive tactics than in USA Free Webinar by Kevin Click on the link below to access Amazon International Expansion Related episodes from the AFBA podcast: Importing to the UK from China with Neil Curran (freight forwarder) Amazon Canada for US Amazon sellers with Kevin Sanderson Selling in UK with Kevin Sanderson with Kevin Sanderson  
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