Tax / VAT
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      3. Tax / VAT

      How are Earnings and Sales Tax / VAT calculated on MyMiniFactory?

      A detailed example of how Earnings and Sales Tax / VAT will be calculated on MyMiniFactory.

      1. Object price = $10 (without VAT)
      2. Applicable sales tax / VAT of 20% = $2 (total price paid is $10 + $2 = $12)
      3. Payment processing fees = $0.65 (calculated on the gross $12 amount (including sales tax / VAT), fees are 2.9% + $0.30)
      4. MyMiniFactory 8% commission platform fee = $0.80 (calculated on the $10 object price (excluding sales tax / VAT))
      5. Creator net payout earnings: $8.55 (= A - C - D) (= $10 - $0.65 - $0.80)

      MyMiniFactory collects the sales tax / VAT that the customer originally paid ($2.00 in this example) and sends it to the relevant authority. The figures used in this example are rounded to 2 decimal places.