If you are planning to sell your Amazon account to another vendor, it is very important to do it correctly in order to avoid problems with the Tax Authorities. Not following the proper measures can lead to incorrect VAT filings and high penalties from the Tax Authorities.
In order to avoid this, please make sure to follow the steps from the checklist below:
1. If you are stopping selling on Amazon and you want to stop filing VAT returns with the Tax authorities, you have to get de-registered in the countries where you are operating. Please contact your account manager for further information on de-registration or view our de-registration article. Be aware, that you only can stop filing VAT returns, when the de-registration has been confirmed by the Tax authorities.
2. Before handing over your Amazon account to the new vendor, make sure to agree on a cut off date with the new owner. It is important that you stop selling your goods through this account, before the new owner can start his activities.
3. It is very important to inform your account manager about the agreed cut off date and about the fact that you are selling your account. He will inform the software team, so that they know from what date the data is yours and not from the new owner of the Amazon account.
4. If the new Amazon account owner is going to do his VAT filings with hellotax, please follow the instructions from this article.
Please be aware: If you do not execute the takeover properly, hellotax can not guarantee to file correctly your VAT returns with the Tax Authorities. In this event the penalties for any incorrect filing can not be met by hellotax.