Until now i don’t make money using Envato, but i’m planning to do that, so the forms w-8 and w-9 will need to be filled when i start selling on Envato even after 1 Jan 2016?
There’s no need to fill in a W8 (that’s what you’d need as the W9 is for US providers) before or after the 1st of January, but you’ll have 28% withheld on all sales until you do. When you do fill out the W8, you’ll have 30% withheld on just your US sales if you don’t include a valid tax ID. And 0 to 30% withheld if you do include a valid tax ID, depending on the allowance you get with your country’s tax agreement with the US.
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Thanks a lot for taking your time to answer, Can i update the W-8 Form later? e.g. (if i choose not to add a Tax ID now but i want to do it a few months later) . also If i don’t have a Tax ID Number but i get one later, will i get back the 30% that was withheld?
No, you don’t get it back as far as I know. You can fill the form in whenever you want, but you’ll only benefit from a reduction in the withholding rate after you’ve submitted your details.
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@SpaceStockFootage answers are pretty much spot on but check this https://help.market.envato.com/hc/en-us/articles/205658994-Tax-Information-Form-W-8-Requirements-for-non-US-Authors it answers it all but bottom line the quicker you sort the correct paperwork etc. the better.
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