myWorld.com offers you the opportunity to deliver your products worldwide to your customers via the European myWorld.com marketplaces. This provides you with the opportunity to expand your marketing channels and to increase your rate of turnover.
But what do you need to be aware of in the world of international sales?
- Customs regulations – Differing rates of VAT in target countries often pose major issues for the supplier. Additionally, the various different VAT rates pertaining to different product categories must be taken into account. 85 different VAT rates exist in the EU alone, as a result of this, and these must be taken into account.
- VAT regulations in international trade – When selling products produced in your own country to a buyer in another country, certain tax obligations must be observed. If German products are sold to another EU country, the VAT may be paid to the value of the turnover threshold. If this threshold is crossed, then the company must legally register and pay the VAT specific to that country.
For the sale of products in a Non-EU country, export is VAT-free. However, one must be aware that import customs tax and/or VAT must be paid.
- Fiscal Regulations – Fiscal regulations are dependent on whether you are selling in an EU or Non-EU country. Within the EU you can benefit from zero import duty. Outside of the EU, import sales tax, customs fees and excise duties can be applied.
- Order processing in the customer’s language – When trading internationally, it is important that you communicate with the customers in their native language. In so doing, you can build a trusting relationship and increase your conversion rate. In all myWorld.com marketplaces, the relevant native language and English will be offered, as a minimum. This way, myWorld.com customers can be served in the correct language.
- Worldwide Shipping – Logistics service providers have adapted to worldwide shipping and, thanks to new tracking technologies, deliveries can be tracked. This proves advantageous for both suppliers and customers. Please, however, be aware that international delivery charges are higher and shipping duration longer.