Understanding Tax Process for Linkbio Withdrawals

In most cases, income earned on our platform is subject to income tax and should be reported similarly to other sources of income. Currently, Linkbio does not have built-in tools to add sales tax or value-added tax to purchases. Therefore, it is your responsibility to calculate and remit any applicable sales tax or VAT on your sales until such tools are made available.

Income tax

When it comes to income tax, we recommend familiarizing yourself with the tax rules in your country regarding income. You may need to declare the income received using our features and report it accordingly.

How to charge sales tax or VAT?

When you add digital products and requests to your Linkbio links, the funds generated from these digital products and requests will be deposited directly into your account. Due to this arrangement, Linkbio does not handle the collection and remittance of sales tax or value-added tax (VAT) on behalf of creators. You are responsible for determining whether you need to register, charge, and pay sales tax or VAT based on your specific circumstances and location.

Note: To ensure compliance with tax regulations and to receive accurate guidance, we highly recommend seeking professional advice from a tax advisor who can provide personalized assistance based on your individual circumstances.

We hope this article has helped you understand how tax works with Linkbio. Please feel free to reach out to us at [email protected] if you have any queries.