What is the Tax Summary?

Envato Authors VideoHive
#1

Can anyone please explain to me what is the purpose of the tax summary

1 Like
#2

In the case of a tax audit by your government, the tax summary is your record of paid taxes in a given fiscal period. The tax summary can also be used as a proof document to claim a specific tax credit if your tax laws allow this. If you unsure what to do with a tax summary, ask a tax advisor for your country.

2 Likes
#3

So, if my country has 0% tax with Envato should I have to pay my tax to my government or no.

1 Like
#5

I don’t know your business model and whether or not you are obliged by the tax rules in your home country to pay income tax. In each country the conditions for this are different and if you can’t get yourself familiar with your own tax rules it’s best to consult a tax advisor for your country.

1 Like
#6

Thanks a lot for you mate, I would like to ask you if you do not mind, you are from Germany so you have 0% tax with Envato, are you paying any money that comes from Envato to your government?

1 Like
#7

Germany has a double taxation treaty (0% on Royalties) with the USA, therefore I don’t have to pay Withholding Tax in the USA. But I’m a freelancer in Germany and all income from my business, including the income here from this marketplace, is subject to income tax in Germany and I pay my tax to the German tax authorities. Last year they also required from me a copy of the US tax summary, even with $0.00 US tax.

3 Likes
#8

Thanks for your help brother I got it. :blush: