Question:
I have an online page. I used to sell products from China Alibaba, but after adding 15% VAT, it is becoming very difficult to make a profit in the business. A brother said to register for TIN and BIN. VAT return has to be shown monthly, and TIN every year. My business is running for 2 months and not running again. How to show 0 VAT return in that case? Another question, BIN/VAT has many types of categories. What type of BIN registration should I do for my business? I have a trade license. Money Trade International.
Answer:
You will register under e-commerce or product sale through online category while doing VAT registration. In case of VAT submission every month, submit through a lawyer. Then there will be no problem.