Global Marketplaces Banking Fees

Marketplace facilitator collection thresholds (US states)

Most US states (45+) require marketplaces above thresholds (typically $100k sales or 200 transactions) to collect and remit state sales tax on behalf of third-party sellers. Sellers report gross sales to marketplace but don't have independent sales tax obligation in those states for marketplace-facilitated transactions.[T1]

EU Marketplace Deemed Supplier rules (from 1 July 2021)

From 1 July 2021, EU Marketplace Deemed Supplier rules: - Distance sales of goods imported into EU ≤ EUR 150: marketplace deemed supplier (IOSS scheme) - B2C goods supply from a third country by a non-EU seller via marketplace: marketplace deemed supplier - Domestic B2C sales by non-EU seller via marketplace into EU consumer: marketplace deemed supplier[T1]

Form 1099-K reporting threshold

Reduced under American Rescue Plan to USD 600 from 2022; transition relief delayed: - 2024: USD 5,000 threshold - 2025: USD 2,500 - 2026 onwards: USD 600 (confirmed by OBBBA P.L. 119-21 July 2025) Form 1099-K is reported by third-party settlement organisations (Stripe, PayPal, marketplaces).[T1]

EU DAC7 platform reporting requirement

Council Directive (EU) 2021/514 requires reporting platforms to provide data on sellers' transactions to tax authorities. Effective 1 January 2023 for reporting 2024. Coordinates with OECD Model Rules for Reporting by Digital Platform Operators.[T1]

UK OECD model rules platform reporting

UK has implemented OECD model rules from 1 January 2024 for platforms with sellers of goods, services, accommodation, transport. Platforms must report seller data to HMRC.[T1]

Recurring fee patterns table

| Pattern | Bank statement variations | Default category | |---|---|---| | **Wire fee** | `WIRE FEE`, `OUTGOING WIRE`, `INTERNATIONAL WIRE` | Bank charges / Other expenses | | **Currency conversion fee** | `FX FEE`, `FOREIGN EXCH FEE`, `CURRENCY CONVERSION`, `0.5% INTL FEE` | Bank charges / Currency loss | | **ATM fee** | `ATM FEE`, `OUT-OF-NETWORK ATM`, `INTERAC FEE` | Bank charges | | **Monthly account fee** | `MONTHLY FEE`, `ACCT MAINT FEE`, `BANK ACCOUNT FEE` | Bank charges | | **Overdraft fee** | `OVERDRAFT FEE`, `NSF FEE`, `INSUFFICIENT FUNDS` | Bank charges (note: deductibility may be restricted by purpose) | | **Returned cheque fee** | `RETURNED CHK FEE`, `RETURNED ITEM FEE` | Bank charges | | **PayPal sending fee** | `PAYPAL *FEE`, `PYPL FEE` | Bank charges / Payment processing | | **Stripe transaction fee** | `STRIPE FEE`, `STRIPE *PROCESSING` | Bank charges / Payment processing | | **Card swap / replacement** | `CARD REPLACEMENT`, `NEW CARD FEE` | Bank charges | | **Wire receive fee** | `WIRE RECEIVED FEE`, `INTL WIRE IN FEE` | Bank charges | | **Inactivity fee** | `INACTIVITY FEE`, `DORMANT ACCOUNT FEE` | Bank charges | | **Foreign transaction fee (card)** | `FOREIGN TRANSACTION FEE`, `3% FX` | Bank charges / Currency loss | | **SWIFT fee** | `SWIFT FEE`, `SWIFT MSG FEE` | Bank charges | | **Verified by Visa** | `VBV FEE` | Bank charges |2.1 Recurring fee patterns

Currency conversion accounting treatment

Multi-currency transactions create FX gain/loss: - IFRS: IAS 21 — settle at spot rate at transaction; revalue monetary items at closing rate - US GAAP: ASC 830 — same principle Bank-imposed FX spreads (e.g., 0.5% above interbank) are typically classified as bank charges, not FX loss. Strict accountants reclassify as a finance cost.[T1]

VAT exemption on bank fees

Most bank fees are exempt from VAT under "financial services" exemption (Article 135 PVD; IRC ITA s.135; etc.). Specific advisory or non-financial services from a bank may be taxable.[T1]