What is VAT?
VAT (Value added tax) is collected by all vendors of merchandise and ventures at each phase of the supply chain. It implies that providers, producers, wholesalers, retailers, and end buyers all compensate the VAT on their buys.
How does PingPong help you Pay VAT to the authorities?
PingPong supports VAT payment to the UK, 7 countries in Europe (Italy, Austria, Germany, France, Poland, Spain, Czech Republic), USA, Canada & UAE Authorities.
In addition, PingPong supports payment in multiple currencies in GBP, USD, EURO.
PingPong Pay VAT feature, enables users to schedule the VAT payment in their PingPong account, this helps to autopay the VAT and transfer the balance withdrawal amount when the user receives payments from the marketplace or customers.
PingPong provides a convenient VAT payment process, permitting vendors to effectively finish VAT registration and tax declaration in the briefest possible time.
To learn more about How to Pay VAT from a PingPong account, follow our step-by-step guide to making VAT Payments.
Step 1 : SIGN IN to the PingPong account and Under the “SEND” tab select “To VAT Authority”.
Step 2 : Select the “Country of VAT authority” you would like to pay to.
Step 3: Enter the required details as mentioned below and click on “Next”
- The country you would like to pay Tax to
- VAT registration number
- Note: Notes can be as per your wish
Step 4 : Please enter the amount you would like to pay, PIN and the confirmation code that is sent to your registered mobile number.
Step 5 : Here you can choose whether to send the payment immediately or schedule it later.
- Please select ‘Now’ to send it immediately.
- Please select ‘Schedule’ to send it later. You can select the date on when the payment can be sent.
Review all the details, then click on ‘Submit’