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Subject:
Selling online from abroad and taxation?
Category: Business and Money > eCommerce Asked by: uwimg-ga List Price: $5.00 |
Posted:
26 May 2003 02:05 PDT
Expires: 25 Jun 2003 02:05 PDT Question ID: 208797 |
Hello, This may have been asked before but I'd like to get this clarified. My brother who is in India, is setting up an online store dealing in Indian Books. He wants to be able to sell to customers in North American and Europe and receive payments through PayPal. He has a couple of questions and I'd like to find suitable answers here. a. Can he open a bank account here in the US so that it is easier to receive funds from PayPal? IF he cannot, then can I collect money in my US account, but would I have to mention this in my tax returns. b. Does he have to pay any sort of tax on goods shipped to customers in the US or the UK? c. Would he be considered as conducting a business in the US and have to pay US income tax or file returns here? Acceptable answers would answer the above three questions directly with sources cited and other informative pages linked. Please do ask for any clarifications. Thanks, uwimg | |
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