Under the buy/sell model, GOAT Group must collect monthly invoices summarizing all relevant transactions made by each VAT-registered seller. GOAT Group will generate and issue these invoices to you under a process known as self-billing. This means that GOAT Group will create and issue VAT-compliant invoices on your behalf that outline all of your sales made to us.
Summary invoices will be emailed to you at the beginning of each month. These invoices will outline your sales completed during the previous month. Each invoice will contain line items for each transaction and their respective VAT calculations, dependent on which warehouse the items were shipped to for review. If you shipped items to different warehouses during the same month period, you will receive separate summary invoices for each respective warehouse.
Self-billing is provided by the EU/UK tax authorities as an acceptable means to issue compliant invoices provided the parties agree to this arrangement. By continuing to sell on GOAT, you agree to the Selling with GOAT policy, including the self-billing arrangement terms.
As a VAT-registered seller, you are still responsible for storing your invoices for the applicable time period required and remitting any VAT paid to you by GOAT Group to the appropriate tax authority.
Please note that prior to March 11, 2024, all VAT-registered sellers were required to record their relevant transactions and then issue their monthly invoices to GOAT Group directly.