In the Spreadconnect App’s Account Settings under Taxes, you need to specify your business type: Small Business, Regular Business, or enter your VAT ID. Understanding which category applies to you is crucial to ensure accurate tax settings and compliance.
Small Business
You are considered a Small Business if:
- You are not VAT registered.
- Your sales within your country do not exceed a specific threshold set for small businesses. This threshold pertains only to domestic sales.
Regular Business
You are considered a Regular Business if:
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Your sales exceed your country’s small business threshold.
-
You are not VAT registered.
Example Definition Business
| Small Business Owner | Regular Business Owner |
|
If you are based in Austria and your domestic sales are less than €30,000, you qualify as a small business.
Note: The threshold includes all sales, not just those made through Spreadconnect. |
If you are based in Germany:
Your total sales amount to €22,000, which exceeds Germany’s €17,500 small business threshold. In this case, you should classify your business as a Regular Business. |
Important Notes:
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If your business status changes (e.g., your sales surpass the threshold), update your Tax Settings immediately.