Might just go into weekend flat. Wait to see what Monday brings.
Doing so great on my EBAY ss, I might just cover 1/2, or even keep it thru weekend, don't know yet. The VAT tax thing can hurt their profits.
Beginning July 1, eBay, the profitable Internet auction site, will restructure the fees it charges sellers who sell their wares on its nine national European Web sites.
From that date, seller fees, which amount to up to five percent of the final sale price, will be inclusive of VAT.
"Within the EU we are now obliged to charge VAT," said Michael van Swaaij, vice president of eBay Europe told Reuters. "Now, the EU is going to get its cut."
VAT rates vary across Europe, ranging as high as 17.5 percent in the UK and 25 percent in Sweden. The VAT rate is likely to put a noticeable dent in the auctioneers' European revenue base.
EBay's international unit contributed $137.5 million in revenues, or 29 percent of first quarter 2003 sales, with Europe being among its biggest growth drivers.
Fred |
