Hello everyone, this is my first time posting here.
I currently run a small business where I sell the product in the Philippines and my clients pay me via PESO.
What happens is my clients pays me first in my Philippines Bank Account and after they pay, I buy the product online in YEN.
How can I deal with this transaction when declaring sales tax?
Until now, what I usually do if my peso stacks up, I find someone who is willing to change Peso to Yen or withdraw the peso and let someone change it to yen and bring it to Japan.
My small business model is very similar to Buyee, where my customers purchase products and I am the one to proxy their orders to ship it to them, and I am in the process of expanding my business but I don’t know how to process things like this when i comes to tax declaration.
Thank you.
by DesperateBaker4832