Is VAT displayed in Fetcher?
Fetcher supports VAT and gives you, the seller, control over the feature.
While inside Fetcher, you will see a “Sales Tax” option for each of your products, under the 'Product Settings' tab at the bottom of the left-hand side of your homepage:
In addition, the marketplace in which each item is sold is shown to the right of the Sales Tax (visible in the image above); this way you can enter different VAT percentages based on the products' dedicated Marketplace.
To edit the Sales Tax percentage, please click on the pencil icon to the right of the percentage number.
And because Europe automatically includes VAT in their retail prices, Fetcher pulls the product price as reported by Amazon...then, from this total, Fetcher will take the percentage you tell it to use for its calculations.
Using the example from the image above, we are telling Fetcher to calculate 20% of the first product’s sale as VAT.
VAT calculation in Fetcher: ((sales - refunds - promos) / 1 + tax rate) * tax rate
So as an example: ((25.000 - 350.76 - 500) / 1.20) * 0.2 = 4,024.87
We subtract refunds because you already paid VAT on this item the first time you sold it. Likewise, we subtract promo rebates since this is the $$ off that you reduced your sales price when your promotion was created. Promo rebates are items that you sold at a discount so you are paying VAT on the discounted price.
With this data, you can then head over to the P&L statement and see your VAT totals displayed, as shown below
If you have any questions about this and/or how it affects you, please email us at email@example.com. We're always happy to assist. :)