pay pal fees and taxes
golcar66
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Posted on
Dec-14-2020
05:27 PM
hi
can anyone explain to me why i have to pay to Pay Pal a percentage of the Taxes a customer paid
on a transaction which i never see?
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1 REPLY 1
sharpiemarker
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Dec-14-2020
05:36 PM
Payment processors generally calculate their fee based on the entire amount received including shipping/handing/sales taxes where applicable. Its just that this is now happening for sales on the internet whereas this practice was already standard with brick and mortar businesses so if you weren't already operating a physical business, you wouldn't know this. The powers that be finally found a way to make money off the net.
https://www.cardfellow.com/blog/dont-lose-money-from-processing-fees-sales-tax/
Kudos & Solved are greatly appreciated. 🙂
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