How to be legal?
I don't know if this is the right section of the forum to discuss this issue, but I think it's a doubt that many people may have. If not, please some admin move to another.
Getting higher volumes of sales, made me think, can I have issues with my government? Will I have to pay taxes or to be in trouble with some authority?
Let's say I just purchase items from stores on the street, and obviously I pay the VAT when I purchase as I buy as a final costumer.
Then I list them on ebay and I profit with them. As I have many competitors, and we all are competiting for cents to be cheaper, how to be legal without loosing competitivity?
I'm selling for years and nothing happens, however what If I start to receive 20k per month on my bank account? What if I somehow sell 50k per month?
It's impossible that no one says nothing...
I know I may be silly and this is a question that can have thousands of different answers. But sadly, I am good making money, I am really no good on legality crap. I just don't understand.
What can we use on our behalf? How to spread this risk and what schemes are available? |