Are you a seller on TikTok Shop? You must have received a notification about updating your Tax Code (MST) for your store. The deadline is approaching fast: 01/07/2024. Act now to avoid any interruption in your business operations!
Why Update Your Tax Code?
TikTok Shop is in the process of refining its system and complying with tax regulations. Requiring sellers to update their Tax Code is mandatory to ensure transparency and legal compliance in e-commerce activities.
If you do not update your Tax Code by 01/07/2024, you may face the following issues:
- Funds being held in the TikTok Shop system.
- Restrictions on your store's operations.
- Loss of credibility with customers.
How to Update Your Tax Code on TikTok Shop:
Updating your Tax Code is very simple. Just follow these steps:
- Access the TikTok Shop Seller Center.
- Select "My Account".
- Choose "Account Settings".
- Select "Tax" and proceed to update the information.
Note:
- Currently, TikTok Shop accepts 3 forms of tax declaration:
- Business - Business Tax Code.
- Individual Business - Individual Business Tax Code.
- Household Business - Household Business Tax Code.
- Ensure the information you provide is accurate, complete, and matches the information registered with TikTok Shop.
- What if your Tax Code is rejected?
- Check if the Tax Code matches the initial business registration documents.
- If your business license has expired or you have changed your business form, contact TikTok Shop for support.
Cases Requiring a New Seller Center:
In some cases, you may need to create a new Seller Center to update your Tax Code:
- Incorrect initial seller information.
- Closed business license.
- Changing business form (e.g., from individual to household business).
Creating a new Seller Center will help you synchronize information and properly set up your shop from the beginning.
Having trouble updating your Tax Code or managing your TikTok Shop?
Don't worry, Ecomax is here to help!
Ecomax's TikTok Shop operation and development services:
- Comprehensive store setup support: Registering accounts, verifying documents, uploading products, etc.
- Store and product optimization: Increasing traffic and conversion rates.
- Banner design and store decoration: Making your store stand out and attract customers.
- Answering all your questions: Helping solve any issues you encounter.
Contact Ecomax now for free consultation and support!