Tax Policy

What is the policy?

Seller Tax Responsibilities Buyer Tax Responsibilities Location Declaration and Compliance Price and VAT Disclosure Tax Invoices and Record Keeping Information Sharing and Enforcement

Purpose of This Policy

What is the policy?

Ventio operates exclusively within the jurisdiction of the Republic of Cyprus, facilitating the sale of goods that are physically located in Cyprus to customers residing in Cyprus, with all shipments confined to local delivery. This Tax Policy sets forth the responsibilities and obligations of sellers and buyers with respect to applicable tax laws and compliance requirements under Cypriot legislation. Seller Tax Responsibilities Income Tax Obligations: Sellers are legally obligated to report and remit any applicable income taxes arising from sales conducted through the Ventio platform, in accordance with the laws of Cyprus. Entities operating as businesses are strongly advised to seek independent professional tax counsel to ensure full compliance with their fiscal responsibilities. Value Added Tax (VAT) on Sales: Pursuant to Cyprus VAT law, all sales of goods and services within the Republic of Cyprus are subject to VAT. Sellers are responsible for including VAT in the prices of all goods listed on Ventio and for adhering to all reporting and remittance obligations associated with VAT. VAT on Platform Fees: Any fees charged by Ventio to sellers, including listing and selling fees, shall be inclusive of VAT as required by Cyprus tax legislation. Buyer Tax Responsibilities Buyers shall pay VAT at the standard rate applicable in Cyprus on all purchases made through the Ventio platform. The prices displayed on the platform are gross prices inclusive of VAT, ensuring the total payable by the buyer reflects all applicable consumption taxes. Since all transactions, products, and shipments are localized within Cyprus, no additional import, customs, or cross-border taxes will be levied on transactions conducted via Ventio. Location Declaration and Compliance Sellers are mandated to accurately declare their geographic location as Cyprus and to affirm that products listed on the platform are physically situated within Cyprus. Any attempt to misrepresent the location of the seller or the goods constitutes a breach of this policy and may result in corrective or punitive actions. Ventio exclusively applies Cyprus tax regulations. No foreign taxes, duties, or compliance obligations arising from jurisdictions outside Cyprus have relevance to transactions conducted on this platform. Price and VAT Disclosure All seller-listed prices on Ventio are stated as gross amounts inclusive of VAT, consistent with the statutory requirements in Cyprus. For instance, a product listed at €5.00 represents the total purchase amount payable by the buyer, with VAT included. Sellers are contractually and legally obliged to ensure all listings reflect VAT- inclusive pricing clearly and transparently. Tax Invoices and Record Keeping Ventio provides VAT-compliant invoices to buyers for all transactions executed on the platform, in strict accordance with Cyprus tax authority requirements. Sellers must maintain accurate records of all sales, fees, and taxes to fulfill any reporting or audit obligations under Cyprus tax laws. Information Sharing and Enforcement Please note that Ventio will share your information with government authorities if required to do so by law. Ventio reserves the right to disclose seller information and transactional data to the Cyprus Tax Department or other relevant governmental authorities to comply with lawful requests or regulatory mandates. All activities on the Ventio platform must adhere to this Tax Policy, the Ventio Terms of Use, and applicable Cyprus laws and regulations, including but not limited to tax laws, commercial statutes, and consumer protection frameworks. Non-compliance with this policy or any pertinent law may result in enforcement actions by Ventio, including but not limited to the removal of listings, warning notifications, restriction of account privileges, suspension, or termination of the seller’s account. Such measures ensure Ventio’s compliance with legal obligations and protect the interests of all users and third parties.

Purpose of This Policy

This policy has been instituted to comply with Cyprus government tax regulations, providing a clear framework that outlines the responsibilities and expectations for sellers and buyers on the Ventio platform regarding VAT and other applicable taxes. It is designed to foster transparency, legal compliance, and trust among all parties engaging in commerce via Ventio.