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Domaining is a trade or service activity

Located in General Domain Discussion, started by Milaim, Dec 3, 2020

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  1. Milaim

    Milaim Established Member

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    Hi guys,

    I just want to know it, if I want to open a company for llegalizing my "business" with domain names how should I need to register that company, as service or trade company???

    TIA
     
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  2. DrJacoby

    DrJacoby Established Member

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    I hope you understand that there are more than one country in the world. Different countries, different rules, and you didn't even mention where you live.
     
  3. Milaim

    Milaim Established Member

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    Im from Europe, you?
     
  4. The Durfer

    The Durfer Top Contributor VIP Gold Account

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    service, kind of retail. Shopping.
     
  5. Milaim

    Milaim Established Member

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    I think is trade, a domainer buy and sell domains which is what should be a trade company...
     
  6. loredan

    loredan Top Contributor VIP ★★★★★★★★★★

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    Should be "ecommerce activities" or a similar class. I guess every country should have something similar...
     
  7. tupungato

    tupungato Wizard VIP

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    Even Europe has more than one country. I'm from Poland and never heard about a need to decide whether a company is a "trade" or "service".
     
  8. Milaim

    Milaim Established Member

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    Yes of course you don't register that companie as service or trade, but my point is when you declare revenue from domaining from which activity you declare as service or trade. asking because here there are two type of taxing the income as trade 3% and service 9%
     
  9. loredan

    loredan Top Contributor VIP ★★★★★★★★★★

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    This is a tricky one ... domains can be both I think. You can classify domains as goods since you buy them low and sell them high and this goes as "trade". You can also classify them as "service" since they aren't tangible goods and most of the time they are used in conjunction with website design/development which is also a service.
     
    Last edited: Dec 3, 2020
  10. jiy k

    jiy k Established Member

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    I feel pure Domaining is a Trade where you buy and sell a name which can be termed as Goods or Digital Products. The tax levied when buying a Domain is Sales Tax. So definitely it should come under Trading category.
     
  11. Ostrados

    Ostrados EpicName.com VIP Gold Account

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    Domaining is like real estates.. so if you are selling domains then it is trade and If you leasing domains then it is service.
     
  12. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I am not sure where you live, or what specific classification you are referring to.

    When it comes to NAICS classification, that you might use for instance when opening a bank account I use the following -

    https://classcodes.com/lookup/naics-code-454111/

    Brad
     
    Last edited: Dec 3, 2020
  13. du6262

    du6262 Established Member

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    It is true that different regions have different rules or understandings.
    I am from China
    We need to get the right qualifications to do business here:xf.smile:

    hope it helps,best wishes
     
  14. comnicoless

    comnicoless Restricted (15-30%)

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    Try Delaware company if your ARR is above few millions.
     
  15. lock

    lock DomainUsed.com VIP

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    It is a sales role and doesn't quite fit your categorisation.
     

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