As others have mentioned, it's best to seek advice from an accountant in the country where your company is registered.
For example, I run a French company, and all invoices are processed through Stripe. I have a separate Stripe subaccount for each service and one for the company itself.
Accounting is handled by a service called Dougs (www.dougs.fr?r=nDclTF7J7l). They offer two options: either they integrate with Stripe to pull transactions and invoices automatically, or you manually create a "ventilation" (accounting breakdown) each month for each sales channel (i.e., service). When I tested the Stripe integration, it didn't work well when receiving payments in multiple currencies, so I opted for the accounting breakdown.
In my case, Dougs handles all my tax declarations for France and help with MOSS for EU. For non-EU countries, Stripe tracks thresholds that vary by country and notifies you when you need to register for taxes and start collecting taxes in a given country. For example, I did this with the UK. However, for non-EU countries, I have to manage tax declarations manually, though I automate some processes with a script. As others have said, it can be a headache, and there doesn't seem to be a truly affordable global solution yet.
As others have mentioned, it's best to seek advice from an accountant in the country where your company is registered.
For example, I run a French company, and all invoices are processed through Stripe. I have a separate Stripe subaccount for each service and one for the company itself.
Accounting is handled by a service called Dougs (www.dougs.fr?r=nDclTF7J7l). They offer two options: either they integrate with Stripe to pull transactions and invoices automatically, or you manually create a "ventilation" (accounting breakdown) each month for each sales channel (i.e., service). When I tested the Stripe integration, it didn't work well when receiving payments in multiple currencies, so I opted for the accounting breakdown.
In my case, Dougs handles all my tax declarations for France and help with MOSS for EU. For non-EU countries, Stripe tracks thresholds that vary by country and notifies you when you need to register for taxes and start collecting taxes in a given country. For example, I did this with the UK. However, for non-EU countries, I have to manage tax declarations manually, though I automate some processes with a script. As others have said, it can be a headache, and there doesn't seem to be a truly affordable global solution yet.
Thanks for sharing