opening market place realy need a vat id or is pay pal account enough?

[Angeliquelechique]

opening market place realy need a vat id or is pay pal account enough? thanks

[jeffrey11488313394]

hi

Im told that lindens do not collect taxes.

so its follow you do not have to, Im buying all the time and not charge taxes.

you can check with the knowledge base

top of this page you will see a tab

Knowledge base click to open it and just search the sections until you find the one you need

or type into the search box payment option or billing.

you get a drop down menu if a section is pick and from that you can define your search.

good luck

enjoy the game

byee

 

[Freya Mokusei]

Just adding a careful warning that Jeffrey is wrong: you need to comply with all local tax laws when operating in Second Life. Linden Lab are legally required to (and do) collect VAT from you if you reside i a country where this tax is applied.

This is your responsibility to research. You should check with a licensed legal professional in your locality to confirm the tax status of your Second Life earnings.

My understanding (I don't operate on Marketplace) is that a VAT ID is only required if you want to avoid paying VAT (i.e., if you're exempt, due to operating a small business or other exemption). Otherwise you don't need a VAT ID, but will pay VAT on your exchanging to/from Linden Dollars.

I'm unclear what your question has to do with PayPal.

[Angeliquelechique]

Thanks Freya, about pay pal , i thought it was enough to have a an acount there for starting a marketplace. I´m just a simple housewife and love to create stuf and thought to give it a try to sale some on marketplace, but i understand from you that i have to register a busines to get a vat id before i can open a marketplace, if i´m wrong please correct me and maybe you have an other solution.

 

thanks again for youre respond

[Freya Mokusei]

Sorry to correct you so briskly, I'm in a rush in RL myself.

 

You do not need a VAT ID before opening a business in Second Life. You MAY obtain one optionally to exempt you from VAT regulations in your home country but this is not necessary. Without a valid VAT ID, LL will pay VAT for you on your behalf (it will be deducted from any funds you take from Second Life).

 

For using PayPal, the account should be verified by PayPal in order to function. I am unaware of any other limitations of using PayPal instead of a fixed bank account but I have no experience in operating a Marketplace business. The above is simply my understanding of the legal requirements put upon LL by VAT-charging countries.

 

Please note that the above is only my understanding - persuing legal advice is a good idea before opening yourself up to new tax and legal risks. I am not a lawyer and the above does not constitute legal or financial advice.

[Freya Mokusei]

I've replied to your follow-up question - to ensure that you see my reply I'm posting this message here, too.

You can see my response at:-

http://community.secondlife.com/t5/Everything-Else/opening-market-place-realy-need-a-vat-id-or-is-pay-pal-account/qaq-p/2829396/comment-id/12118#M12118

[Perrie Juran]

To create a store on the Market Place you need to have Payment Information On File.:

http://community.secondlife.com/t5/Commerce/New-Merchant-Requirement/ba-p/2321469

In the event you decide to cash out any earnings, if you live outside of the U.S., Linden Lab will request additional identification:

http://wiki.secondlife.com/wiki/Linden_Lab_Official:Required_Tax_Documentation_FAQ

For more information about VAT, see here:

https://secondlife.com/corporate/vat.php