Wedio cannot and does not offer tax-related advice to any members. Please consult your tax consultant to determine tax treatment for your rental activities and retain all relevant documentation. This statement is provided for information purposes only and is not intended to constitute tax advice.
Lenders are responsible for determining their applicable tax reporting requirements, and the taxes that should be included in a listing price, and for including taxes to be collected or obligations relating to applicable taxes in their listings.
Appropriate governmental agencies, departments or authorities where lenders and/or renters are located may require taxes to be collected from lenders and/or renters on the amount paid for the right to rent and use an lenders listing, and to be remitted to the respective tax authority. The laws in jurisdictions may vary, but these taxes may be required to be collected and remitted as a percentage of the actual listing rental rate (before tax) set by lenders, a set amount per day, or other variations. Lenders are responsible for remitting to the relevant authority any taxes included or received by them. We recommend that lenders contact any applicable tax authority to determine the effective tax rate for renting out their listings.
We follow the EU standard rules on VAT, and will charge VAT from the service fee depending on your status and country.
Wedio charges a service fee of 15 % (ex. VAT and taxes) of the rental price. The service fee will be charged from the transaction when you are renting out your gear.
Wedio charges a service fee of 5 % (ex. VAT and taxes) of the rental price. The service fee is included in the rental price when renting gear.
Wedio's service fee is used for:
- Transaction fee
- Business operation of Wedio.com
Read more on receipts and invoices.