Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
To briefly outline my situation:
As a visual artist in a secondary occupation, I am VAT exempted. But my agent/gallery is not. Our agreement is that 50 per cent goes to the agent/gallery on sale. When selling to private persons, I invoice the customer without vAT. But then I receive an invoice from my agent for 50 per cent + 21 per cent vAT. Is there a way to get around this, so that I actually feel like I’m keeping 50 per cent of the sale?
Since the agent has to pay vAT, it is best to calculate your selling price with part of the vAT cost included, even if you do not pay vAT yourself. That way, you will feel more like you are keeping 50 per cent.
For example, if you want to keep at least 50 euro to a work of art, I would set the selling price at 100 euro + 10.5% vAT cost = 110.5 euro. If I understand correctly, the agent takes 50% of the amount excluding vAT. His invoice will then be 50 euros + 21% = 60.50 euros, leaving you with 50 euros, i.e. half of 100 euros. Thank you, good idea!
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
